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Bayou Business Download: 7 Months into the Pandemic

Published Oct 08, 2020 by A.J. Mistretta

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In this episode of Bayou Business Download we look at where our national and local economies stand seven months into the pandemic and what's likely in store in the months ahead. We're joined by Partnership Senior Vice President of Research Patrick Jankowski.  

Key topics include: 

  • The major factors influencing the national economy. 
  • How the recovery is likely to progress nationally. 
  • What industries are the hardest hit and which might recover quicker than others. 
  • The national jobs picture. 
  • The forces driving the local economy and what is likely to steer recovery in Houston. 

 

Get the latest indicators on the local economy from Partnership Research. 

 

Bayou Business Download is presented by: 

pnc

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A new survey of American workers indicates that workers mostly feel positive sentiment pertaining to the economy, but it revealed concerning truths about career exploration and access to skills development programs. In October during an UpSkill Works forum, the Partnership’s Peter Beard, who leads the UpSkill Houston initiative, hosted Jane Oates, president of WorkingNation, the workforce-focused media organization that commissioned the survey. Oates presented the key findings and others and shared what they mean for workers, students, employers and educators. The survey was conducted by Frank Luntz and his company, FIL, in August 2020, with a sample size of 800 people. The survey is a “snapshot in time” that shows a useful picture of how workers view their skills and how they could obtain more. 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Workers put a premium on certifications in technology skills as a means for obtaining well-paid employment in the future 66 percent of workers say they have never had the opportunity to participate in skills training on-the-job. 56 percent of workers were unaware of local skills training programs; More than 20 percent said they would not use these programs, anyway  Oates advocated for school curriculum to include job-focused lessons in creative ways and for colleges and universities to embed industry-recognized credentials into associate and baccalaureate degree programs as opportunities to improve career understanding and provide the education individuals believe they’ll need to have successful careers in the future. A recording of the Forum may be viewed to the right. Main points from the discussion follow. Workers are optimistic about achieving the American Dream. They value employment that is enjoyable and rewarding over employment that’s secure. Even now, amid the pandemic and changing labor market, people seem more willing to take an enjoyable, rewarding or interesting job with an employer that might appear less secure than one that seems more secure, Oates said. Nearly one-third of workers (31 percent) said they never had a discussion about a future job with a parent or a teacher, a statistic Oates hopes can be changed by creatively embedding career exploration into school curricula. By doing so, “you're teaching them how to write a research paper, but you're also teaching them how to learn about what they could do and what they're interested in how they match their passion with how they make their money.” “If we could get parents of every age to begin and continue to talk to their children about careers and their potential, it could make a difference,” Oates said. 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Mayor Turner Addresses COVID Response, Resiliency and More in 2020 State of the City

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Houston Mayor Sylvester Turner discussed the City’s response to the COVID-19 pandemic, economic concerns and efforts to grow the next generation of local companies in his 2020 State of the City address.   “As we move forward through these unprecedented times, the City’s foundation is strong; the City itself is resilient; and the City’s future is bright,” Mayor Turner said.  The Mayor delivered his fifth State of the City address, hosted by the Greater Houston Partnership, on October 22. He said while each of those speeches has been special in different ways, “this one, during an unprecedented year, is significant while we are in the midst of a global pandemic, social and civil unrest, economic instability and a highly charged election season.” The city has battled the COVID-19 pandemic on several fronts over the last seven months, from leveraging new public health resources to developing small business assistance programs. 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