Speeches by Secretary Elaine L. Chao

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U.S. Secretary of Labor Elaine L. Chao
Remarks to the Meeting of the 21^st Century Advisory Council
Frances Perkins Building
U.S. Department of Labor
Washington, D.C.
November 21, 2002

Thank you, Shelley [Hymes, Director of the Office of 21^st Century Workforce].

It’s great to be here, and it’s so good to see all of you here today.

Before we get started, I’d like to announce and welcome a few new members of our Council:

Dr. Margaret Clark and Dr. John Clark, Professor Heo-Peh Lee, and Mary Maguire—all of whom are here with us today. As well as new members Dick Davidson, George Halverson and President of the Service Employees International Union Andrew Stern, who could not be with us.

We appreciate the willingness of these new members, and indeed all members of this council, to serve.

The addition of these new members means that the advisory council is complete. And that means it’s time to get down to business!

I know Shelley has planned a full agenda for your meeting today.

First we’ll hear from Kevin Hassett, a resident scholar at the American Enterprise Institute, who is going to tell you about the conference the Department of Labor recently co-hosted with AEI on productivity. Kevin served as a moderator at that meeting, and did a great job leading the discussions there.

The conference, held on October 23^rd, was convened in order to discuss one of the most important aspects of our nation’s economy: productivity growth. We looked at its driving forces, its impact and its future.

Productivity growth is critical to maintaining and increasing the standard of living for American workers. This is particularly important to me and, I know, to everyone in this room.

Department of Labor data shows that real wage gains closely track productivity growth. We also know that a one percent increase in the productivity growth rate has the power to cut the federal deficit by $2 trillion over ten years and trim the social security shortfall by one-quarter to one-half over 75 years. It’s a win-win situation for workers.

It’s an important topic and I’ll let Kevin go in to more detail.

Kathleen Utgoff, commissioner of the highly regarded Bureau of Labor Statistics, is also here with us today. And I know she would be happy to answer any questions you may have on productivity numbers.

You’ll also hear today from Assistant Secretary for the Employment and Training Administration, Emily DeRocco. She will talk to you about the reauthorization of the Workforce Investment Act—something that is of critical importance to the 21^st Century Workforce.

The vision behind WIA is exactly right: to make the workforce training system more responsive to actual economic needs and conditions. But more remains to be done, and I know Emily will want to hear your ideas as well.

After Emily’s discussion you will be hearing from Deputy Secretary Cam Findlay and Assistant Secretary for Policy Chris Spear. They will be talking about a study that we have commissioned on the 21^st Century Workforce.

Our discussions at our last meeting revealed how truly dynamic and complex the 21^st Century Workforce is. And although our combined experience adds up to a certain expertise on the workforce, we still need a comprehensive, up-to-date study.

Chris and Cam will be seeking your input on that important project.

Then, at lunch, we are going to have a special awards ceremony. Our lunch is being held in conjunction with the Department’s Office of Disability Employment Policy, which will be presenting its New Freedom Initiative Awards. These awards were established in May of this year to encourage public-private alliances that promote employment for people with disabilities.

It will be a rewarding and important event, and one that is extremely relevant to both the challenges and the solutions of our 21^st Century Workplace.

It’s going to be a great meeting. We have our work cut out for us! I look forward to seeing you at lunch.

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