Download - Leadership Louisville Dr. James R. Ramsey President, University of Louisville January 18, 2011
Leadership Louisville
Dr. James R. Ramsey President, University of
Louisville
January 18, 2011
Thank you
Our Goal“A Discussion”
A Place to Start
Economists like pictures and graphsSome dots and a triangle…
Quick overview of what’s been happening economically in the
last few years.
Sources: NBER, BEA, and BLS.* Lowest level during the current recession. The next two quarters (2009:III and IV) have been positive.
Peak Decline in real GDPDec-07 (IV) -3.70%Mar-01 (I) 0.40%Jul-90 (III) -1.40%Jul-81 (III) -2.90%Jan-80 (I) -2.20%Nov-73 (IV) -3.20%Dec-69 ((IV) -0.20%Apr-60 (II) -1.10%Aug-57 (III) -3.70%Jul-53 (II) -2.60%Nov-48 (IV) -1.70%
US GDP
Endured worse economic downturn since WWII
National Non Agricultural Employment(in 000s)
Dec-07Jan-08
Feb-08
Mar-0
8
Apr-08
May-0
8Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08Jan-09
Feb-09
Mar-0
9
Apr-09
May-0
9Jun-09
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09Jan-10
Feb-10
Mar-1
0
Apr-10
May-1
0Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
-800
-600
-400
-200
0
200
400
600
-131 -54 -95
151
71103
Economy coming back, but job growth will be slow
Jan-99
Jul-99
Jan-00
Jul-00
Jan-01
Jul-01
Jan-02
Jul-02
Jan-03
Jul-03
Jan-04
Jul-04
Jan-05
Jul-05
Jan-06
Jul-06
Jan-07
Jul-07
Jan-08
Jul-08
Jan-09
Jul-09
Jan-10
Jul-10
1750.0
1770.0
1790.0
1810.0
1830.0
1850.0
1870.0
1890.0
Jan '991769.4
Oct '001833.6
Jul '031777.6
Dec '071872.4
Nov '101774.4
Kentucky Non Agricultural Employment(in 000s)
See any public policy issues here?
Kentucky Manufacturing Employment(in 000s)
Structural not Cyclical Jan
-99Jul-9
9Jan
-00Jul-0
0Jan
-01Jul-0
1Jan
-02Jul-0
2Jan
-03Jul-0
3Jan
-04Jul-0
4Jan
-05Jul-0
5Jan
-06Jul-0
6Jan
-07Jul-0
7Jan
-08Jul-0
8Jan
-09Jul-0
9Jan
-10Jul-1
0200.0
220.0
240.0
260.0
280.0
300.0
320.0
308.3
Nov '10214.5
Issues – New Economic Clusters
“Jobs of Tomorrow”
Knowledge Based Economy
4 Keys to Economic Growth
Education PaysPer Capita Income in All 50 States v. Adults with Bachelors Degrees or Higher
Data for 2007
$25,000
$30,000
$35,000
$40,000
$45,000
$50,000
$55,000
15% 20% 25% 30% 35% 40%
2007
What’s all this have to do with Higher Education?
We are expected to help improve economic
opportunity and quality of life for Kentuckians
(HB1-1997)The Law has not changed.
UofL “Premier Nationally Recognized
Metropolitan Research University”Educated
Workforce• Baccalaureates• Professional• Graduate
Research• Funded $$• Translational
Community• Quality of life• Solving problems
UofL’s RAM program changes thousands of Kentuckians lives.
$3.15 million grant will support cancer research in Owensboro. December 2010 Commencement
We understand economic budget reality…
But everyone has priorities Kentucky has “leaks in the
budget”(Kentucky Chamber of Commerce)
Students or Inmates?One Leak in the Bucket
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