Powerskills are never soft! Every regions' need

Regions' biggest workforce need? Dr. Art McCoy, CEO, Educator, Entrepreneur, Fellow, & Superintendent Emeritus, has his own name for it.

Based on this insightful Federal Reserve Bank of St. Louis article, "Economic Equity: Challenges and Opportunities for Advancing Economic Security among U.S. Young Adults" published on March 26, 2024, it was essential to share takeways and a key tip for support: powerskills.

KEY TAKEAWAYS

• In 2022, more than 1 in 3 U.S. young adults (defined as those ages 18 to 24) reported having no wage or salary income, up from 1 in 5 young adults in 1990.
• Since 2017, the share of young adults reporting depression has both risen and diverged from the share of older adults reporting depression. By 2022, the depression rate among young adults was 50% higher than it was among older adults, which deepens economic disparities.
• For young adults, variations in financial well-being are wide: Roughly three-quarters of white and Asian young adults reported doing at least OK financially, while just over half of Black and Hispanic young adults reported doing at least OK financially.
• Narrowing demographic income and wealth disparities can impact the broader economy: More-equitable wealth outcomes could help generate economic growth and innovation.
• Offer young adults a clearer view of their opportunities, building a stronger community by retaining talent.
• Investments in young adults could increase their ability to interact with the economy while enhancing worker productivity, innovation and growth beneficial for fostering a healthy economy.

ART MCCOY, PhD, Champion and Leader of STL.works for the Regional Business Council shared:

Biggest workforce needs: "The most significant workforce need is what people often refer to as soft skills, but I refer to them as power skills. While hard skills can get an individual hired, the lack of essential workplace social skills have the?power?to get that same individual fired. These power skills include having the ability to problem solve, think critically, regulate emotions for good mental health, and effectively communicate with others, for example. In?St. Louis Community College’s?most recent?State of the Workforce?report, soft skills was the number one demand and need among employers, who were?surveyed throughout the region.?

"An excellent job with great health care, living wages, 401K plan, a supportive professional mentor or network, and a career pathway to specialized roles and six figures is?power. Individuals who demonstrate great time management,?value communication, dress for success, and understand corporate culture and key goals are benefiting from high-paying positions, promotions, bonuses and incentives. Many St. Louis companies need help finding resilient?people to pay while they are still undergoing training to fill these positions in the various fields, including health care, trades, technology, advanced manufacturing, to name a few. And keeping new hires requires support, mentorship,?and additional power skills (the power to last and fit)."

"As the leader and champion of STL.works, I serve as a 'drum major' for jobs (and social justice), education/training, and?IDEAS — workforce inclusion, diversity, equity, access, action and skills?for success for all?—?by engaging and empowering the community, companies, and citizens in need."

The organization: "STL.works, a Regional Business Council workforce development initiative, connects work-ready youth and adults?with high-wage jobs that do not require a four-year degree within five main industries:?Health care, Advanced Manufacturing, Technology, Trades and Public Safety. These efforts are coordinated through a?vibrant collaborative of more than 150 industry corporate partners and more than 75 nonprofit partners, training and mentorship programs, schools and universities for educational outreach, and a robust web portal.?

Where you’re seeing progress: "STL.works is pleased to partner with and supply clients and support to many nonprofit organizations like the Urban League of Metropolitan St. Louis, Inc. , AccessPoint, AMICSTL, BioSTL , Geofutures, Gateway Global , CyberUp , NPower , Global Cybersecurity Center, the National Geospatial-Intelligence Agency , BJC Health System , the St. Louis County Police Department and City Police Departments, and more. Through collaborative impact effort without seeking praise or attention, more people are being trained, paired with mentors, and ushered into fields like technology, geospatial sciences, advanced manufacturing, health care and many gateway positions with wages and benefits equal or greater than many positions requiring bachelor’s degrees."

Advice for employers or job seekers: "We invite employers, jobseekers, and others to join the movement for economic growth and empowerment in St. Louis,?for?St. Louis.?Please reach out to us at?www.STL.works." Also, go to artmccoy.com to connect with Dr. McCoy.