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Skills Gap in US – The next generation of workers won’t be able to fill the void

Nearly two-thirds (63 percent) of employers reported that they are concerned about the growing skills gap in the U.S..

A new analysis of college degree completions vs. job demand from CareerBuilder and Emsi shows that the next generation of workers won’t be able to fill the void.

According to a national Harris Poll survey of more than 2,300 employers, commissioned by CareerBuilder, half (49 percent) of employers have experienced a negative impact on their business due to extended job vacancies with 25 percent reporting a loss in revenue and 43 percent pointing to lower productivity.

To exemplify the current scope and potential exacerbation of an already debilitating talent deficit, data experts at CareerBuilder and Emsi looked at a sample of college programs that aren’t producing enough graduates to keep pace with labor market demand. While the programs highlighted in the study have grown at least 10 percent from 2009-2014 and had at least 10,000 completions in 2014, they’re still undersupplying candidates for occupations that already see big gaps between the number of jobs posted and the number of hires companies make each month.

For example, 157,591 people graduated with degrees in Computer and Information Sciences in 2014, a number that increased 41 percent since 2009. While the growth is encouraging, it’s not enough. On average, from Jan. 2015 to Jan. 2016, 689,685 computer and information technology jobs were posted each month in the U.S. However, the average number of hires was only 209,035 – leaving a gap of 480,650 positions.While this is a critical issue in STEM-related fields (science, technology, engineering and math), it extends to other areas as well. The analysis shows notable gaps for Human Resources Management, Economics, Legal Assistant/Paralegal and Graphic Design among others.

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Chosen excerpts by Job Market Monitor. Read the whole story at  New CareerBuilder and Emsi Analysis Finds College Degrees Are Not Keeping Up With Demand in Critical Areas – CareerBuilder

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