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Remarks Prepared for Delivery by
U.S. Secretary of Labor Elaine L. Chao
National Association of Asian American Professionals
Hyatt Regency Atlanta
Atlanta, Georgia
Friday, August 17, 2007
Thank you, Baoky I am delighted to be here in Atlanta for this year's convention.
I would also like to thank John Fok, Brenda Tran, Sunny Park, and the Association for your continued commitment to advancing opportunities for Asian Pacific Americans.
It is a pleasure to be here among so many young professionals, who are doing so much to strengthen our country and our community.
This afternoon, I'd like to share some thoughts on the state of the U.S. economy, the competitiveness of the U.S. workforce, and what is being done to create opportunities for America's workers.
Despite concerns and challenges that arise from time to time, it is important to remember the fundamental resilience of the American economy. We have a record of facing challenges and crises and bouncing back successfully. We saw that after the terror attacks of 9/11 and after the Gulf Coast hurricanes. Even with the concerns we're seeing today involving high energy prices, the housing market, and the financial markets, the fundamentals of our economy remain positive. Our economy is buoyed by continuing job growth, a highly productive workforce, and steady business investment.
And the U.S. national unemployment rate remains at a low 4.6 percent. That's more than a full percentage point lower than the average 5.7 percent unemployment rate of the 1990s. And our economy has created 8.3 million net new jobs since August 2003. That's more jobs than the Eurozone countries and Japan combined have created.
Of course, there are challenges. The economy of the past was characterized by interchangeable labor, cyclical layoffs, and workers with a high school diploma. Today's economy is markedly different. It requires workers who are comfortable in a rapidly evolving, high-technology environment that can respond quickly to changing economic conditions. Also, as the U.S. transitions to a knowledge-based economy, there is a greater demand for workers with more knowledge, skills, and creativity. In fact, two-thirds of all the new jobs being created now require post-secondary education or training.
Over the next decade, for example, our country will need 3.0 million healthcare professionals. We will need over 900,000 engineers, including aerospace, biomedical, civil, computer software, and environmental engineers. We will also need workers in other high growth industries including nanotechnology, geospatial technology, and the life sciences, to name a few.
Today, employers in the high-growth, high-demand sectors of the economy offer good jobs and solid career paths for workers. And these employers are increasingly placing a premium on higher skills and education. So, wages in these jobs are rising more quickly than in others. In fact, 68.6 percent of the new jobs created over the past 12 months have been in sectors that pay above average wages.
So workers with advanced skills and higher education are well-positioned to benefit from today's economy. And we are seeing evidence of this trend. Recent census data, for example, shows that women of all education levels from 21-30 make more money than men, on average, in Chicago, Boston, Minneapolis, New York, and other big cities. A major reason, according to experts, is that women are graduating from college in larger numbers than men. And many of these women are taking jobs and pursuing careers in these major urban areas.
This Administration recognizes the importance of investing in worker education and training. Each year, it spends nearly $15 billion on worker training and employment services. The Labor Department administers nearly $10 billion of this amount. And the private sector spends much more.
In particular, this Administration has worked hard to update the publicly funded workforce investment system to better meet the challenges of our knowledge-based economy. We've worked together over the last few years to strengthen the system's capacity to serve workers. And we've created programs and initiatives that are helping workers gain greater access to the education and skills required for these good paying jobs.
In 2003, President George W. Bush announced the High-Growth Job Training Initiative. The aim of the initiative was to expand the workforce investment system's capacity to respond to local economic needs. And by partnering with industry leaders, educators, and economic development officials, the initiative has helped provide a pipeline of workers trained for great job opportunities. Since 2003, the Department of Labor has invested over $288 million in 156 partnerships. And these partnerships are showing great results.
The next step was to engage educators and educational institutions. Today's jobs require more specialized skills and higher levels of education. So in 2005, President Bush announced the Community-based Job Training Grants to strengthen the role of community colleges in developing the full potential of the U.S. workforce. We chose community colleges because they are affordable, accessible, and have close connections to local labor markets. They are perfectly positioned to prepare workers for high-growth occupations.
Over the past two years, the Department has awarded approximately $250 million to 142 community colleges in 45 states. And last week, the Department announced a third grant competition for awards totaling approximately $125 million.
Together, these two initiatives are helping communities develop solutions to workforce challenges and labor shortages. And through the Department's WIRED initiative, we are further investing seed capital with 39 leading organizations that are preparing their respective regions to better compete in 21st century economy.
Also, during his State of the Union Address in January 2006, President George W. Bush announced the American Competitiveness Initiative. The purpose of this initiative is to keep America strong and secure by ensuring that the U.S. continues to lead the world in science and technology. And to do so, the initiative invests more than $136 billion over 10 years in R&D and education — the largest sustained increase in federal R&D funding since the Apollo space program in the early 1960's. The initiative committed $5.9 billion in FY 2007 to increase investments in research and development and encourage entrepreneurship. And today, in partnership with the private sector, State and local governments, and colleges and universities, the initiative is helping to further promote educational achievement and economic productivity.
The American Competitiveness Initiative is helping to strengthen math and science teaching in classrooms. This is important to the children of our community, which puts such a strong emphasis on education. It is also helping increase the demand for math and science teachers, also important as the Asian Pacific American community has many talented people in the pipeline to fill jobs as educators.
And just last week, President Bush further expanded the Administration's comprehensive strategy to keep America the most innovative nation in the world. On August 9th, he signed the America Creating Opportunities to Meaningfully Promote Excellence in Technology, Education, and Science — or America COMPETES Act of 2007. This legislation doubles funding for basic research programs in physical sciences. It authorizes the President's Math Now Proposal to improve instruction in mathematics. And, it authorizes the President's proposed Advanced Placement/ International Baccalaureate Program.
Overall, this Administration believes the best way to make certain we are able to meet the demands of the 21st century and ensure America's competitiveness is not through bigger, more expensive government programs, but by empowering the individual. And that's what the President's ownership society is all about.
America offers workers a different kind of security, that of a dynamic economy and new opportunities. Workers in the U.S. can have confidence that there is always another, usually better job out there, if they further their education and gain the necessary skills these new jobs require.
There are so many opportunities in this country, especially for young people. And, in particular, there are promising opportunities for Asian Pacific Americans, who are accessing higher education at a high rate.
When my family and I arrived in New York City in 1960's, there were very few Americans of Asian descent in our community. Today, Asian Pacific Americans are one of the fastest growing segments of our society. And America is much more diverse. Diversity is a core strength of our country and much sought after by employers who want to successfully compete in the worldwide economy.
As you know, the Department of Labor is committed to helping the Asian American community — and other traditionally underserved communities — access opportunity in mainstream America. For the first time, in 2003, the Department of Labor's Bureau of Labor Statistics began to track the employment patterns of Asian Pacific American in separate categories. That's how we now know that the unemployment rate for Asian Pacific Americans is a low 3 percent.
This Administration has also made a special effort to target enforcement of our nation's wage and hour laws on industries that employ large numbers of vulnerable, immigrant workers. In 2006, the Department recovered nearly $172 million for over 246,000 employees who did not receive the wages they were due, many of whom were vulnerable immigrants.
The Department has also posted record results in enforcing equal opportunity rights for employees of federal contractors — with an increase in financial recoveries of nearly 80 percent since 2001.
Also, because the labor laws of our country are complex and often difficult to understand, the Department has translated labor law materials into multiple languages, including Chinese, Vietnamese, and Korean.
And the Department also started a summer internship program that many Asian American young people have attended.
These are just a few examples of the programs the Department has launched to help the Asian Pacific American community — and other traditionally underserved communities — access greater opportunities in mainstream America. As Secretary of Labor, helping the Asian Pacific American and other traditionally underserved communities advance within mainstream America is one of my highest priorities. America today can benefit from our strong family values and our emphasis on quality education. We have much to contribute to this great country.
Today, America's economy is strong because America's workforce is among the most innovative and productive in the world. As I've said many times before — America is a beacon of hope and opportunity throughout the world and we shouldn't fear the worldwide economy. America's greatest strengths lie in our democratic institutions, respect for the rule of law, transparency, accountability, and the most creative and compassionate workforce in the world.
I am confident that by continuing to work together we can further ensure that our nation's economy stays strong and America's workers remain the most competitive in the world.
I hope you find this conference engaging, educational, and empowering. Have a great conference!
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