Recent Upper Cumberland labor force participation numbers reported as the lowest since 1976.
Highlands Economic Partnership Vice President Adam Poe said the labor force participation is based on the percentage of working-age individuals, ages 16 and older. Poe said contributing factors to low participation include a growing aging population, wage rates, and the types of job opportunities available.
“There is a humongous difference between having a 9 to 5 and having a fulfilling job and making a difference,” Poe said. “And if you study Gen Z, you study Millennials, that future workforce, making a difference is much more important.”
Poe said understanding the factors contributing to low labor force participation can help policymakers and business owners identify areas for improvement. He said it could also help implement new opportunities for economic growth in the communities themselves.
Poe said when the Highlands Economic Partnership explores attracting new businesses and industries to the area, they pay close attention to the interests and aptitudes of students in the K-12 system, specifically the younger grades. He said using that information they recruit businesses that will pique their interest when they get to working age.
“This has been a humongous focal point of our organization over the last year or so, we’ve got to have our educators, K-12, and post-secondary educators communicating regularly and forecasting and strategizing with our industry professionals here locally,” Poe said. “We’ve got to be able to calculate, measure, and track the interest of students at all ages, not just juniors and seniors because it’s too late at that point, they’re already part of the labor force.”
Poe said it is key to look 10, 15, and 20 years out into the future of what the economic landscape is, not just three to five years.
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