Proper Skill Set Lacking for Majority of American Workers
According to a new American Staffing Association (ASA) Workforce Monitor Survey, 54% of Americans believe that employable adults are not getting jobs because they don’t possess the required skills for the jobs they want.
The survey, which was conducted by The Harris Poll, revealed few other insights about the unsuccessful job seekers in America today. Here are the top reasons why people looking for jobs are failing at finding any job opportunities:
- 24% of Americans believe they are too dejected after continuous rejections to keep looking for a job – the good news is though there are lots of jobs out there though someone may have to be willing to relocate (300,000+ jobs were created in January of 2019, for instance)
- 26% believe that they need a job with flexible working hours
- 33% believe there are limited job opportunities in the area they live (this is certainly the case in cities like LA, Oakland, and Baltimore)
- 45% believe that few jobs are available for their specific skill set
It is notable that there are close to 7 million job openings in the US, and the job market has never been this tight before. And still, some people can’t find work?
The survey found that even though the US is currently a job seekers’ market, the public thinks that many unemployed people can’t get work because of the skills gap.
Not a Positive Trend
The US job market at present has more openings now than there are workers, which is kind of a historic event in itself. But what is of concern is that this ‘gap’ seems to be growing.
According to the Bureau of Labor Statistics, the number of vacancies is higher than the number of unemployed people in the country. This trend has been going on for years, and is a clear indicator of the skills shortage faced by most industries.
Skill Shortage Causes Lower Hiring
The reason why many companies do not hire as much as they would like is because they do not find enough candidates with the required skill sets. As a result, to attract and retain top talent, companies offer more incentives to those who possess the top skills.
The policymakers and economists at the Federal Reserve are still confused as to how to bridge this monumental skills gap. The co-founder of DataTrek Research, Jessica Rabe, says that employers are having a hard time finding workers who have the essential skills to fill the vacant positions.
She also says that it’s hard to increase wages when the workers don’t have the appropriate qualifications and skills to fill that role.
Even Silicon Valley is continuously finding it hard to fill tech vacancies, and employers across the country are failing to hire workers due to a skills mismatch or skills shortage.
Many US economists agree that the number one challenge for businesses today is finding qualified workers. The problem is likely to have a deeper economic impact, if the skills gap continues at the current pace. Skilled labor shortages are set to increase across all company sizes and industries.
According to a Gallup-Lumina survey, only 43% of Americans believe that college prepares the students for successful job experience.
This seems to match the opinion held by most employers. Two in three company owners and business leaders think that college graduates don’t have the requisite skills and qualifications essential for their businesses.
This is why some people believe that majoring in philosophy and social studies, for instance, does not make any sense. It certainly does not make any sense majoring in these areas and paying over $30,000 for this type of degree. Starting in junior high, schools should inform their students about what America needs and what America pays for those types of skills.
When that happens, this issue will dissipate.