Job Market Monitor
Skills Gap
US – Evidence demonstrating a skills shortage is not found in wage data
To an economist, the most accessible and persuasive evidence demonstrating a skills shortage should be found in wage data. If employers urgently need workers with skills in short supply, we expect them to offer higher pay to prospective new employees who possess the skills. When workers with crucial skills are offered better wages by expanding … Continue reading
Coding in EU – Skills shortage of 900,000 coders by 2020
The European Commission (EC) has warned that we face a shortage of 900,000 coders by 2020. The number of computer science graduates is not keeping pace with demand for coding skills, the EC warned this week, as it tries to encourage young people to take up coding over summer. It also said that the number … Continue reading
The Talent War – 63% of CEO said availability of skills was a serious concern (PWC)
Megatrends are redrawing the skills map for global businesses; the supply of talent is shifting at a time when demand is increasing. This is exacerbating a familiar worry for CEOs; 63% said availability of skills was a serious concern, an increase of 5% on 2013. With half of CEOs planning to hire more people over … Continue reading
Canada – Shifts to onshoring and no shortage of workers in Canada reports KPMG
For the past eight years, manufacturers in Canada have been fighting an uphill battle. From the downturn of the US economy and the rising Canadian dollar, to skilled labour challenges and off-shoring trends – manufacturing here has faced tough headwinds. Today, times are finally moving in a direction that helps rather than hinders manufacturers, according … Continue reading
Skills Gap in US – The case of construction workers
Homebuilders have had a difficult time finding labor. This might sound odd considering that 1.5 million construction workers lost their jobs during the recession and only about 80,000 construction jobs have been added back since the recovery began, says Bank of America’s Michelle Meyer. To get a better sense of the health of the construction … Continue reading
The Global Workforce Crisis: crippling labor shortages and chronic labor surpluses
Demographic risk is one of the most insidious of all megatrends threatening the global economy, but its impact throughout the world is neither simultaneous nor uniform. For our research [The Boston Consulting Group], we performed simulations on 25 major economies to quantify the extent of labor shortages and surpluses for 2020 and 2030. Overall, by … Continue reading
US – College degree or vocational education ?
The U.S. Bureau of Labor Statistics estimates that only 27 percent of jobs in the U.S. economy currently require a college degree. By comparison, the U.S. Census Bureau reports that 47 percent of workers today have an associate degree or higher. The BLS projects that the proportion of jobs requiring a college degree will barely … Continue reading
Big Data – A huge demand for talents
If you thought good plumbers and electricians were hard to find, try getting hold of a data scientist. The rapid growth of big data and analytics for use within businesses has created a huge demand for people capable of extracting knowledge from data. The McKinsey Global Institute, the business and economics research arm of McKinsey … Continue reading
IT Skills Gap in UK – It continues to increase says Roger Keenan
Worryingly, City Lifeline research has shown this may just be the start of the problem. Almost a third of UK senior IT personnel believe IT equipment has become more complex than five years ago. Its likely this trend will continue and could have a huge impact on the technology industry in this country. The gap … Continue reading
IT in UK – 74 per cent have experienced difficulty recruiting staff
74 per cent of current IT leaders have experienced difficulty recruiting staff with the necessary skills and experience they require according to new research commissioned by Reconnix, the Open Source and Cloud Service provider. When asked on the issue of hiring qualified staff, only 12 per cent of those responsible for hiring technology related positions … Continue reading
The Beveridge Curve in US – A worsening
Real Time Economics has been tracking the progression of the Beveridge Curve, named after the economist William Henry Beveridge, that tracks the relationship between the job openings rate and the unemployment rate. With so many jobs available, more people ought to be finding their way to work. An openings rate above 3% has historically meant … Continue reading
Skills Gap in Norway – And the the most difficult to find are …
Skilled labour now tops the list of the most difficult to fill jobs in Norway, according to recruitment firm ManpowerGroup. The greatest difficulty is sourcing candidates with a vocational education. Those most in demand are: Skilled Labourers Education Professionals Engineers Sales Executives Project Managers Doctors & Medical Professionals not including Nursing Staff Accounting & Finance … Continue reading
US – The Skills Gap
We could think of the US labor markets as consisting of two distinct pools of workers: skilled and unskilled. And while the unskilled workers are leaving the labor force, the skilled labor market is starting to tighten. Thats part of the reason for the persistent mismatch between job openings and the unemployment/marginal employment rate – … Continue reading
Skills Gap in US Manufacturing – 75 percent of manufacturers surveyed report a moderate to severe shortage of skilled resources
A new Accenture manufacturing and skills study, completed in collaboration with The Manufacturing Institute, looks at the skills shortage in the US manufacturing industry and what actions manufacturing companies can take to address this impediment to growth. Our study includes survey responses from more than 300 executives from a diverse range of US manufacturing companies. … Continue reading
Migrants accounted for 47% of the increase in the workforce in the United States and 70% in Europe over the past ten years says OECD
The economic impact of migration has been intensively studied but is still often driven by ill-informed perceptions, which, in turn, can lead to public antagonism towards migration. These negative views risk jeopardising efforts to adapt migration policies to the new economic and demographic challenges facing many countries. This edition of Migration Policy Debates looks at … Continue reading
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