Deloitte Study Finds Major Skills Gap Continues to Weaken U.S. Labor Recovery

By Kalen Smith, Big4 Blogger

A new study from Deloitte has said that a skills shortage has weakened the labor recovery in the United States. Companies are struggling to find workers with the right skill sets. Many CEOs have said the the high unemployment rate has not been able to help them find qualified workers to join their teams.

Deloitte said this problem is expected to threaten the overall economy. Many U.S. based companies are also expected to lose ground to companies overseas, where workers are more proficient at doing their firms need to succeed in the global economy.

Deloitte analysts John Hagel and William Eggers authored the report. They said that companies need employees with the right skill sets. However, many of the employers they interview too many employees have outdated skills.

One of the biggest problems cited in the report is the aging workforce. As Americans get older, the number of experienced workers with updated skills is expected to contract. Employers also won’t be able to depend on new graduates to fill that void. The skills many graduates acquire after completing a four year university program will be obsolete nearly as quickly as they were developed.