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Skills Gap ‘21: Opportunity Knocks - skillsgapp

Written by skillsgapp | Mar 5, 2021 5:00:00 AM

As we clamor for silver linings in the cloud of COVID-19, perhaps one is America’s skills gap, which is creeping up to a new high due to the exodus of Boomers from the workplace. While this presents many challenges for employers, it offers an abundance of opportunities for Gen Z who are in prime position to take advantage of the need to fill hundreds of thousands of jobs that make up our skills-based talent shortage over the next ten years.

America’s Skills Gap Trajectory

Those who hold college degrees have been hit hardest by the pandemic. According to edsurge, “When the unemployment rate spiked during the spring of 2020, jobs that required a college degree declined more than those that didn’t, and new college graduates were hit the hardest. Not only did postings for bachelor’s level jobs fall the most, but entry-level jobs also dropped farthest and fastest.”

The AAF explains, “Over the next decade, the nation as a whole could face a shortage of about 765,000 needed workers with the skills that come from an associate degree or some college.”

Here is where Gen Z can pounce, having witnessed firsthand that even during the pandemic, skills-based careers are a viable option, and could even be considered a safer career path alternative to a 4-year degree … and just as lucrative.

Optimism and Opportunities

The National Association of Manufacturers recently released its final Manufacturers’ Outlook Survey of 2020 and found that “74.2% of manufacturers responding to the survey felt positive about their own company’s outlook, up from 66% last quarter.” The NAM also says, “According to the latest numbers from the Bureau of Labor Statistics, there were 525,000 job openings in manufacturing in October, a record high.” 

Unfilled positions are not only abundant in manufacturing, but also cybersecurity. The Herjavec Group’s 2019/2020 Cybersecurity Jobs Report indicates, “The U.S. has a total employed cybersecurity workforce consisting of 715,000 people, and there are currently 314,000 unfilled positions.” 

This leaves the pathway wide open for Gen Z to take advantage of this labor shortage if paved with skills-based training. Because according to Undersecretary at the California Labor and Workforce Development Agency, Stewart Knox, “It’s not about just who you knew or who you might have an in with to get that job. It is based on skills.”

The Future Ahead

A greater focus on skills was part of the former Trump administration’s agenda that is continuing under Biden’s. The House of Representatives recently passed the National Apprenticeship Act of 2021 — a bill Jobs for the Future reports will bring apprenticeships into the modern era, investing $3.5 billion over the next five years to strengthen these programs and bring in a new generation of skilled workers. 

It’s safe to say that while vaccines are bringing the pandemic to a close, skills-based careers just busted wide open.