Phil Hopkins

1

Education and the Philadelphia Economy

• Presented by
• Phil Hopkins
• Managing Director, US Regional Services
• Global Insight
• April 6, 2005

2
Employment Growth vs. Share of Population With
College Degree
3
Large MSA Income s. Employment Share in Creative
Occupations
4
Employment by OccupationNovember 2003
5
Educational Attainment by Occupation in 2003
United States
6
Educational Attainment in the Philadelphia PMSA
in 2000
7
2003 NAEP Scores
8
Metro Area Population
9
Jobs Growth
10
Migration in 2003

• To Philadelphia, 36,889
• From
• Foreign countries 1,706
• Other states 20,113
• Metro Phil. 12,595

• From Philadelphia 50,532
• To
• Foreign countries 828
• Other states 23,148
• Metro Phil. 23,738

11
People Follow Jobs and Perceived Economic
Opportunity

• And Jobs Follow People
• Regional attractiveness to business
• Pool of available skilled, educated labor
• Economic developers focus on attracting high
  Income individuals
• The Rise of the Creative Class
• High amenity cities grow faster!
• Weather coasts and mountains
• Social life restaurants/theatre/sports
• Public services
• SCHOOLS
• Safety
• Mobility freeways/mass transit

12
Education and Economic Growth
 
 
 
 
 

• Economic Structure and Occupation Mix Drive the
  Need for Education
• Education Must Be Viewed As A Competitive
  Advantage the Way to Avoid the Wage Gap
• Improving Educational Attainment Should Be Viewed
  as an Economic Development Imperative
• Low Achievement in Urban Schools Hurts the Entire
  Metropolitan Economy
• Equitable Statewide Funding is a Start But Not
  the Whole Answer
• Remember Votech