A new analysis of college degree completions vs. job demand shows that the next generation of workers won’t be able to close the skills gap.
College students in search of a major, take note: Research from CareerBuilder and Emsi reveals there are certain degree programs that aren't producing enough graduates to keep up with labor market demand. Translation? Earning a degree from one of these programs means you'll be in high demand once you enter the workforce.
The programs highlighted in the study are undersupplying workers for occupations that already see big gaps between the number of jobs posted and the number of hires companies make each month. For example, 157,591 people graduated with degrees in computer and information sciences in 2014. On average, from January 2015 to January 2016, 689,685 computer and information technology jobs were posted each month in the U.S. However, the average number of hires was only 209,035 – leaving a gap of 480,650 positions.
Which fields are affected?
It's no surprise that STEM-related fields (science, technology, engineering and math) are feeling the impact of a low supply of graduates. What is surprising, perhaps, are the other fields dealing with this issue, including human resources management, economics, legal assistants/paralegals and graphic design.
Check out the below chart for more details:
Program | Post-secondary completions | Avg. monthly job postings (2020) | Avg. monthly hires (2020) | Gap between postings and hires | Projected job growth (2021) | No. of associated jobs (2021) |
157,591 | 689,685 | 209,035 | 480,650 | 8.6% | 4,691,330 | |
Registered nursing, nursing administration, nursing research and clinical nursing | 248,627 | 346,061 | 103,177 | 242,884 | 9.0% | 2,956,717 |
18,287 | 54,307 | 16,655 | 37,652 | 7.2% | 402,295 | |
26,480 | 86,903 | 65,167 | 21,736 | 5.2% | 1,066,144 | |
26,367 | 29,224 | 10,265 | 18,959 | 3.0% | 317,576 | |
32,429 | 26,032 | 9,819 | 16,213 | 3.1% | 278,995 | |
85,014 | 19,122 | 5,142 | 13,980 | 6.8% | 148,902 | |
11,622 | 21,503 | 7,599 | 13,904 | 9.6% | 195,120 | |
16,309 | 21,313 | 10,361 | 10,952 | 8.0% | 276,741 | |
40,103 | 36,185 | 25,602 | 10,583 | 14.4% | 519,427 | |
19,690 | 15,436 | 12,379 | 3,057 | 9.0% | 275,057 | |
11,819 | 14,886 | 12,536 | 2,350 | 2.2% | 240,083 |
How can this problem be solved?
So, what has caused this skills gap (read: not having enough skilled workers to fill open jobs)? Employers think it's in large part due to a lack of information: 47 percent of employers surveyed by CareerBuilder believe the skills gap is an information gap — meaning people are not aware of the jobs that are available and growing.
This is further backed up by the fact that nearly 1 in 4 high school seniors have no idea what career they want to pursue, according to CareerBuilder research. Of high school seniors who have pinpointed a desired profession, 23 percent say they made their career choice based on something they saw on TV or in a movie.