Labor Shortage Continues

99% of Jobs Go to College Graduates

by Gary Kaplan, JFYNetWorks Executive Director

“There are no jobs for high school diplomas.”

The May jobs report reiterates a theme we have been hearing with increasing urgency: the shortage of skilled labor. The current 4.3% unemployment rate is a 16-year low. That means there are very few unattached workers available at a time when job openings are near all-time highs. For employers who can’t find qualified workers it means foregoing opportunities for expansion. For the economy at large it means slower growth. But it’s not just a quantitative problem, it’s also qualitative: there aren’t enough workers with the specific skills employers need. The wide range and varied dimensions of the skills shortage are indicated by a survey of Saturday’s newspaper reports.