Regional President Speech

Federal Reserve Bank of San Francisco ABOUT US OUR PEOPLE JOIN US What We Study Our District Research & Insights News & Media / NEWS & MEDIA / SPEECHES / MARY C. DALY’S SPEECHES College is Opportunity SPEECH INFO Slides presented virtually at the 2020 NASPA Virtual Conferences on Student Success in Higher Education By Mary C. Daly, President and Chief Executive Officer, Federal Reserve Bank of San Francisco For delivery on June 29, 2020 DOWNLOAD PDF (433 KB) These slides were presented virtually at the 2020 NASPA Virtual Conferences on Student Success in Higher Education by President Daly during the Opening Featured Speakers panel. College is Opportunity NASPA Conferences on Student Success in Higher Education June 29, 2020 Mary C. Daly President & CEO Federal Reserve Bank of San Francisco The views expressed here are my own and do not necessarily reflect those of anyone else in the Federal Reserve System. College is protective Graduates have lower unemployment rates Unemployment rate by educational attainment Percent 12 10 8 High School 6 4 2 College or more 0 1993 1996 1999 2002 2005 2008 2011 2014 2017 2020 Source:BLS/Haver Analytics.Note: Unemployment rate shown is a 12 month moving average. And insurance against economic shocks Changes in unemployment rate during recessions, 1992-2020 Source: Bureau of Labor Statistics. Note: Past two recession values are averaged from 2000-2001 recession and Great Recession. Coronavirus shock values are from February to May 2020. College is an investment Graduates earn more Graduates have greater economic mobility Degrees earn a competitive return College is our future Demand for college degrees is rising But too many are left behind Closing gaps benefits everyone Improves potential economic growth • Employ more of working age population • Increase the skill level of the workforce Protects the American Dream • Aspirations need evidence References Abel, Jaison R., and Richard Deitz. 2014. "Do the benefits of college still outweigh the costs?." Current Issues in Economics and Finance 20, no. 3. Carnevale, Anthony, Nicole Smith, and Jeff Strohl. 2013. “Recovery: Job Growth and Education Requirements Through 2020.” Georgetown Center on Education and the Workforce. Daly, Mary C., and Yifan Cao. 2015. “Does College Pay?” Does College Matter? Federal Reserve Bank of San Francisco 2014 Annual Report. U.S. Department of Education. Institute of Education Sciences, National Center for Education Statistics. 2016. “Educational Attainment of Young Adults.” http://nces.ed.gov/programs/coe/indicator_caa.asp

Mary C. Daly (2020, June 28). Regional President Speech. Speeches, Federal Reserve. https://whenthefedspeaks.com/doc/regional_speeche_20200629_mary_c_daly

@misc{wtfs_regional_speeche_20200629_mary_c_daly,
  author = {Mary C. Daly},
  title = {Regional President Speech},
  year = {2020},
  month = {Jun},
  howpublished = {Speeches, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/regional_speeche_20200629_mary_c_daly},
  note = {Retrieved via When the Fed Speaks corpus}
}