Training and Labor Markets – Some Interesting Stats

September 17, 2014

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Thanks to EvoLLLution for creating an interesting study. It’s a couple of years old, but I just ran across it.

Many North Americans have trouble keeping pace with the changes occurring in today’s work- place. Despite the existence of 9.3 million unemployed Americans, the country experienced a shortage of 7 million skilled workers in 2010, a shortage that is expected to climb to 21 million by 2020. A lack of educational attainment sits at the root of the issue. So much so, that unless more North Americans strive to achieve a higher level of education, average income per capita is going to decline within the next decade.

If I understand the stats, this means that (in theory) the skills gap is responsible for 75% of the unemployment rate (7 million unfilled positions / 9.3 unemployed).

The skilled worker shortage is expected to grow to 21M by 2020. Crazy.

I’m very interested in seeing the breakout of the skilled worker shortage.

Once employed, the need for education never ends. 70% of employers say that continuing education is a requirement to simply stay current.  Most of the report focuses on this issue.

Definitely worth a read.

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