The Penn Foster Blog

As the United States economy continues to trend in a positive direction, many industries are still left wondering how to fill a surplus of open jobs with skilled workers. The retail industry isn't immune to this effect by any stretch, as the turnover rate in the industry was a whopping 13% as of March 2018.¹

Today's tight labor market has been attributed to the growing skills gap, the increase in retiring baby boomers, high rates of employee turnover, and more. Despite all of these factors, there has not yet been a full shift from the must-have college degree mindset to a learn-and-earn model that could better support employers and employees.

The skills gap has been making headlines for years. For companies in manufacturing, construction, and other skilled trades it's more than a news story, it's a fact of life. Despite proposed changes in legislation and educational structures, many are still struggling to find the employees they need to fill vacant positions.

Have you ever lost your keys? Been locked out of your house? Struggled to install a security system? You're not alone. Every single day people require the talents and skills of professional locksmiths and home security technicians.

Finding the ideal employee isn't easy. Someone with the perfect mix of skills and experience is unlikely to simply walk through your door. Most candidates will meet some of your requirements but lack skills in other key areas.

As the number of "nontraditional" students, especially working learners, rises, the traditional secondary education format, i.e. a recent high school graduate going to a brick-and-mortar college fulltime, is becoming less of a reality. Many learners are struggling to access the brick-and-mortar college because of finances or actual distance " nearly 11.2 million adults live in an education desert, or more than sixty minutes from a public college.1

Pharmacy technicians are the ever-present faces at drug stores, pharmacies, and hospitals across the nation, fulfilling a crucial role in the healthcare system. As the population ages, requiring prescription medication care, pharmacies are becoming more important in the healthcare industry. As such, the job outlook for pharmacy technicians is expanding at a faster rate than average, at 12%, suggesting a need for more skilled workers to fill these opening positions.

Finding employees with the right skills is a struggle for many businesses, but manufacturing and information technology are having the most trouble according to Bureau of Labor Statistics data. They're facing a skills gap, resulting in millions of unfilled jobs across the country.

Almost every industry is feeling the effects of the skills gap. It's a problem that's not likely to be solved by educational reforms alone, especially in the short-term. Companies need trained, qualified employees now, not four years from now when college freshman become graduates, and certainly not 16 years from now when today's first-graders get their diplomas.

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