A Quote by Lucy Powell
Globalisation means that for a high-wage, developed economy like Britain's to compete we need to focus our efforts on the highly skilled, added-value sectors such as advanced manufacturing, creative industries, engineering and even financial services.
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Making sure there are good jobs that pay a decent wage in every part of the country means backing hi-tech companies, modern manufacturing, Britain's scientists and creative industries - not spending billions of pounds reopening coal mines or renationalising huge swaths of the economy.
The vast majority of Americans are employed in service sector industries, and many of those sectors are highly internationalized. The most high-value added sectors, notably the tech sector, is massively globalized. And, for them, it would be a disaster if America's trade policy was to go down a spiraling route towards protectionism.
We targeted five industries for growth, industries where we have natural advantages in North Dakota: value-added agriculture, advanced manufacturing, technology-based businesses, energy and tourism. We worked very hard to grow all those businesses, and that's what's happening.
Investing in industries and technology for the 21st century generates high-skilled, high-wage jobs for industries of the future.
Batley and Spen has a high proportion of people working in manufacturing, and we can boast the full range of industries, including high-skilled, precision engineering. We manufacture all sorts, from beds to biscuits and from carpets to lathes. We also have some of the best fish and chips in the country and some of the best curries in the world.
We know that to compete for the jobs of the 21st century and thrive in a global economy, we need a growing, skilled and educated workforce, particularly in the areas of science, technology, engineering and math. Americans with bachelor's degrees have half the unemployment rate of those with a high school degree.
For me, the real thing is make, serve and list in India. Which means we need manufacturing, we need services, and we need financial markets.
The problem is that we are trying to prepare people for the new economy using a higher education system built for the old economy. As a result, many high-skilled, high-paying industries suffer from a shortage of labor, while too many low-paying industries suffer from a surplus.
What I hear from employers day in and day out is, 'I need to make sure I have that skilled workforce to compete.' And so we've been able to help so many people punch their ticket to the middle class by transforming our workforce development system for advanced manufacturing jobs and other critical jobs that exist right now.
Let's put our workers first, boost skills training and invest in growth sectors like agritech and advanced manufacturing.
There are only two ways to have a middle class in your country: either you have highly skilled manufacturing jobs, or you have a highly skilled, well trained, knowledge-based workforce. In other words, college.
In the eighties and nineties, the innovation agenda was exclusively focused on enterprises. There was a time in which economic and social issues were seen as separate. Economy was producing wealth, society was spending. In the 21st century economy, this is not true anymore. Sectors like health, social services and education have a tendency to grow, in GDP percentage as well as in creating employment, whereas other industries are decreasing. In the long term, an innovation in social services or education will be as important as an innovation in the pharmaceutical or aerospatial industry.
Atlantis was a highly evolved civilization where the sciences and arts were far more advanced than one might guess. Atlantis was technologically advanced in genetic engineering, computer science, inter-dimensional physics, and artistically developed with electronic music and crystal art forms.
Most high-income people in our country do not realize that their incomes are being subsidized by their protection from competition from highly skilled people who are prevented from immigrating to the United States. But we need such skills in order to staff our productive economy, so that the standard of living for Americans as a whole can grow.
For food service industry and retail, I'm for the minimum wage being increased to at least $12. Not for manufacturing. Software and robotics are going to revolutionize manufacturing in the next 10 years. In the meantime, we have to compete with overseas manufacturing.
Engineers do engineering, i.e. they build bridges. So engineering needs engineers. The economy does NOT need economists. Economists do not make economy, but they try it and that is why we have so much problems with some financial models.
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