The Bureau of Labor Statistics reports that although nearly 12 million U.S. workers are unemployed, businesses report nearly four million open jobs—jobs that cannot be filled by previously displaced workers because of gaps in skills. There is clearly a mismatch between the education and skills that many Americans have and what employers need. At a time when American industry is struggling to fill these open positions, it is common to say that we have a skills gap. But in truth, it’s not just a skills gap–it’s a training gap.
If we want to fix this, we need to put the onus on those who train, rather than those who need to be trained. A recent OECD study that evaluated work-based skills taught in schools in 29 countries found that the U.S. ranks dead last. Wharton School professor Peter Cappelli found that in 1979, young U.S. workers received an average of 2.5 weeks of training per year. By 1995, studies found that the average company offered just under 11 hours per year. By 2011, Accenture found that only 21% of all U.S. employees had received any employer-provided training in the past five years. In other words, 80% of today’s workforce is working jobs with little to no instruction since before the iPhone was invented!
Chosen excerpts by Job Market Monitor. Read the whole story at
“Around the world, governments and businesses face a conundrum: high levels of youth unemployment and a shortage of job seekers with critical skills” writes Mona Mourshed, Diana Farrell, and Dominic Barton in a McKinsey in Its report Education to Employment Designing a system that works. (Adapted choosen excerpts by Job Market Monitor to follow) How can a country successfully move … Continue reading »
McKinsey partnered with Chegg Inc. to conduct a survey that gauges the attitudes of more than 4,900 recent graduates on a range of issues. The mix included attendees of four-year and two-year private and public colleges, as well as vocational and for-profit institutions. The survey primarily focused on students who graduated between 2009 and 2012, … Continue reading »
High-tech companies face a shortfall of some 40m skilled workers by 2020, with businesses based in China likely to be among the worst hit, according to a study by the McKinsey Global Institute. The institute – a research arm of the McKinsey strategy consultancy – says that manufacturing will be the sector of the global … Continue reading »
In Greece and South Africa, more than half of young adults are out of work. In much of the Middle East, the figure is 25 p.ercent; in the United States, it’s about one in six. Yet at the same time, businesses complain that they can’t find enough workers. What’s going on? Continue reading »
Employers want graduates with so-called soft skills — those who can work well in teams, write and speak with clarity, adapt quickly to changes in technology and business conditions and interact with colleagues from different countries and cultures. “Soft skills tend to differentiate good college graduates from exceptional college graduates,” says Joseph Krok, university research liaison at Britain’s Rolls-Royce. Continue reading »
Then last week Susan Adams received a report from consulting firm McKinsey, done together with student website Chegg, which is making that pit in my stomach deeper. In October and November of last year McKinsey surveyed 4,900 former Chegg customers, a mix of young people who went to private, public, vocational and for-profit institutions. The findings … Continue reading »