As of Friday, the much awaited May jobs report is out. And, as expected, it was not as good as expected. The unemployment rate inched up to 8.2 percent and a mere 69,000 jobs were created—the fewest in a year. So, growth was slow, but the good news is that the labor force actually grew by 635,000. So, while job creation was low, May still proved to be a positive month for the half-million plus who were able to go back to work.
Fewer jobs created and more people out of work. Those are both very valid concerns. Equally concerning though is the fact that millions are out of work yet hundreds of thousands of jobs are going unfilled. Manpower recently released this report based on employer surveys. It focuses, not on the shortage of jobs, but on another job market shortfall: available talent. Employers who have jobs, who are hiring, and who need talented workers simply claim to be unable to find them!
How big is the disconnect between skills and needs? Take a look at the chart below (based on Manpower’s data).
USA: % of EMPLOYERS HAVING DIFFICULTY FILLING JOBS
According to the information above, nearly half of the 1,300 employers surveyed are struggling to fill the vacancies they do have. And, also based on Manpower’s data is a list of the top 10 jobs that have been tough to fill. Topping the charts: skilled trades workers, engineers and IT staff.
We don’t have a solution for bridging the gap. We don’t profess to be economists or miracle workers. But, we can attest to the fact that the hardest positions for us to fill have been in three areas: skilled trades, engineering and IT.