76% of the 425+ employers surveyed across Pennsylvania ranked the readiness of the current labor force to meet the needs of employers as fair (50%) or poor (26%). The biggest frustrations employers have with job seekers:
- Poor work ethic
- Lack of motivation
- Lack of interpersonal skills
- Lack of interview etiquette
- Lack of phone etiquette
- Inability to communicate confidently and maturely
If you need help with job seeking, please contact the Pennsylvania CareerLink of Lancaster County.
Today, employers are looking for:
- Logical thinking/problem solving
- Verbal communication skills
- Reading comprehension
- Basic math and writing
- Academic degrees/certifications
The workforce skills needed in the next ten years are:
- Collaboration and teamwork
- Verbal/written communication
- Project management
- Trades and related skills
- Presentation skills
- Business skills
This research was conducted by Susquehanna Polling & Research.
The baby boomer generation is hitting retirement age, and companies must prepare for what could be a major exodus, or some call it the "silver tsunami."
The US Bureau of Labor Statistics reports that as many as one out of ten workers will retire either this year or the next. It is projected that by the year 2020, about 25% of the U.S. workforce will be composed of older workers (ages 55 and over).
New York (Associated Press, June 24, 2014): Some comforting news for recent college graduates facing a tough job market and years of student loan payments: That college degree is still worth it.
Those with bachelor's or associate's degrees earn more money over their lifetime than those who skip college, even after factoring in the cost of higher education, according to a report released Tuesday by The Federal Reserve Bank of New York. The study, by economists Jaison R. Abel and Richard Deitz, also found that a degree is still a good investment for college grads whose jobs don't require college. About a third of all college graduates remain underemployed for most of their careers.
A person with a bachelor's degree can expect to earn about $1.2 million more, from ages 22 to 64, than someone with just a high school diploma, the report said. And someone with an associate's degree will bring in $325,000 more than someone with a high school education. The study used data from the U.S. Census Bureau and the Bureau of Labor Statistics.
Rising tuition costs, surging student debt levels and an increase in unemployment rates among new grads since the recession have caused some to question the value of higher education. The New York Fed study is just the latest to say that a degree is a good investment. A Pew Research Center report from earlier this year said young adults with college degrees make more money, have lower rates of unemployment and are less likely to be living in poverty than those with just a high school education.
The New York Fed report said that between 1970 and 2013, those with a four-year bachelor's degree earned an average of about $64,500 per year, while those with a two-year associate's degree earned about $50,000 per year and those with only a high school diploma earned $41,000 per year.
Madison, WI (Manufacturing Business Technology, June 19, 2014): For many years and even decades, the U.S. manufacturing sector has cued thoughts of economic decline, heavy job cuts, dark "Dickensian" facilities and a hopeless outlook in collective minds. But in recent years, the foundation has been developed for the industrial landscape to improve, and a handful of buoyant factors have accomplished what had been inconceivable for many years: restored faith in manufacturing.
The U.S. has among the lowest labor costs in the industrialized world and is awash in cheap energy, making it attractive for businesses to reshore by bringing their operations back to the U.S. Businesses are expected to invest $500 billion in U.S. manufacturing in 2014, and a recent survey indicated that 54 percent of executives are planning to reshore or are seriously considering it.
While unit labor costs for all industries have risen 2.3 percent since the recession, unit labor costs for manufacturing have actually fallen 6.2 percent. In addition, in 2006 China held a $17.10 unit labor cost (calculated as a proxy, Effective Wage) advantage over the U.S. Since U.S. wages have grown even more slowly than anticipated, expectations are that the Chinese advantage will shrink to $9.20 in 2014 and $6.90 in 2015. This huge competitive advantage arises from the fact that U.S. productivity has grown sharply while real wages have hardly changed at all.
The second leg of the manufacturing reindustrialization is cheap U.S. energy. Natural gas prices have continued their divergence from prices in other industrialized nations, although there have been temporary spikes due to the unusually cold U.S. winter. Looking forward, natural gas prices are likely to experience downward pressure due to continued increases in production, providing a significant boost to the U.S. and an incentive to companies to re-shore their operations.
New York (Accenture and the Manufacturing Institute, May 15, 2014): U.S. manufacturers may be losing up to 11 percent annually of their earnings as a result of increased production costs stemming from a shortage of skilled workers, according to a new study from Accenture and The Manufacturing Institute.
The scale of the issue is illustrated in the study, "Out of Inventory: Skills Shortage Threatens Growth for U.S. Manufacturing," in which 39 percent of the 300 U.S. manufacturing executives surveyed described the shortage of qualified, skilled applicants as "severe," and 60 percent said it has been difficult to hire the skilled people they need. In addition, more than 50 percent of respondents said they plan to increase their production by at least five percent in the next five years.
Furthermore, as the report notes, when manufacturers are unable to fill roles, overtime, downtime and cycle times increase; more materials are lost to scrap; and quality suffers. More than 70 percent of the respondents reported at least a five percent increase in overtime costs, and 32 percent reported an increase of 10 percent or more. As manufacturers used overtime to maintain base production levels, 61 percent said their downtime increased by at least five percent, as they lacked enough people to run and maintain the equipment. Cycle times also increased at least five percent at 66 percent of the respondents' companies.
Washington, DC (Associated Press, March 20, 2014): A new study documents the bleak plight of Americans who have been unemployed for more than six months: Just 11 percent of them, on average, will ever regain steady full-time work.
The findings by three Princeton University economists show the extent to which the long-term unemployed have been shunted to the sidelines of the U.S. economy since the Great Recession. The long-term jobless number 3.8 million, or 37 percent of all unemployed Americans.
"The long-term unemployed are more than twice as likely" to stop looking for a job than to find one, according to the paper co-written by Alan Krueger, formerly President Barack Obama's chief economic adviser. "And when they exit the labor force, the long-term unemployed tend to say they no longer want a job."
New York (The Fiscal Times, January 29, 2014): Nearly everyone agrees that recent college graduates are having an inordinately tough time finding work almost five years after the end of the Great Recession. Young people aged 18 to 34 have struggled with double-digit unemployment and account for half of the 10.9 million unemployed Americans, according to government figures.
Now a new study shows there is widespread disagreement between business leaders and young adults and their families over the root causes of this problem, beyond the obvious problem of a sluggish recovery.
Nearly three-quarters of hiring managers complain that millennials — even those with college degrees — aren't prepared for the job market and lack an adequate "work ethic," according to a survey from Bentley University, a private business school in Waltham, Mass. Those hiring managers aren't alone in their assessment, either. A wide range of businesspeople, corporate recruiters, academics and others interviewed for the study agree that recent college graduates deserve a grade of "C" or lower for their preparedness for their first job.