How can it be that today, in the midst of the most severe economic downturn since the Great Depression and millions of Americans seeking work, that 53 percent of employers -- and 67 percent of small business employers that create most new jobs -- find it difficult to find qualified workers? How can a workforce desperate for new jobs appear so helpless amid so many businesses desperate to hire?(Via Minding the Campus.)
The answers to those questions lie at the heart of a new divide that has developed within the American economy. Over the last several decades, a chasm has emerged to divide the skills of the nation's workforce, as they exist, and the demands of the nation's job market. Today, America has only 45 million workers who have the training and skills to fill 97 million jobs that require some post-secondary education. U.S. companies have to choose among importing skilled workers, outsourcing jobs, or relocating operations in markets overseas with a rising supply of skilled and affordable workers. At the same time, the nation has more than 100 million candidates for only 61 million low-skill, low-wage positions. If America wants to remain competitive, we will have to expand our supply of high- and middle-skill workers.
But that will require more than just pointing high school graduates in the direction of their nearest college campus. The national spotlight on "access" to college has shrouded another priority: ensuring that those who enter college programs graduate with the skills and credentials they will need to succeed in the workforce and help America remain competitive around the world. Today, more than 70 percent of high school graduates enroll in some kind of advanced education within two years. Yet, just over one-half of bachelor's degree candidates complete their degree within six years, and less than one-third of associate's degree candidates earn their degree within three years. America has a serious college completion crisis.
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