leadership louisville dr. james r. ramsey president, university of louisville january 18, 2011
TRANSCRIPT
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Leadership Louisville
Dr. James R. Ramsey President, University of
Louisville
January 18, 2011
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Thank you
Our Goal“A Discussion”
A Place to Start
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Economists like pictures and graphsSome dots and a triangle…
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Quick overview of what’s been happening economically in the
last few years.
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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
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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
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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?
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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
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Issues – New Economic Clusters
“Jobs of Tomorrow”
Knowledge Based Economy
4 Keys to Economic Growth
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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
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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.
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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
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We understand economic budget reality…
But everyone has priorities Kentucky has “leaks in the
budget”(Kentucky Chamber of Commerce)
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Students or Inmates?One Leak in the Bucket
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