Skills and Jobs in America: Past – Present – Future

By Edward E. Gordon First the good news: Over the past decade (2011-2020) investment in corporate training has grown by about 30 percent. The caveat is that professionals and executives received the lion’s share of these programs. (Development Dimensions International, 2023) The current skills-jobs picture paints a different reality. Seventy-five percent of U.S. employers now struggle to find skilled talent (worldwide it is 77 percent). This is the highest figure in 17 years. (ManpowerGroup 41 Country Survey, 2023) By 2030 U.S, talent shortages may lead to a loss of nearly $2 trillion from unrealized revenue. This will coincide with an estimated decline in the labor participation rate from 62 percent (2020) to 60 percent (2030). (Korn Ferry, “The Global Talent Crunch,” 2018) The worker pipeline is being squeezed because too many skilled workers are retiring and too few younger people are entering the workforce. Until 2029, 10,000 U.S. workers will retire each day. At least one-third are skilled workers. Unfortunately, the following generations are smaller and many of them lack the educational attainments needed to fill the high-skill jobs of the Fourth Industrial Revolution. In 2023 the ACT scores of U.S. high school seniors was the lowest in 30 years. Grade inflation at both the high school and college levels is masking the real educational accomplishments of today’s students. READ FULL ARTICLE >>