Page 23 - MidJersey Business - September 2015

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side, as well,” Schwartz says. “We don’t have a tradition of employers banding together by sector to address their talent pipeline problems. U.S. employers, by and large, are reluctant to invest money in training. They won’t spend a lot of money on building a front line workforce. Em- ployers don’t believe teenagers can add any value to the workplace.”
The current state of affairs has helped to produce a skills gap, in which there are not enough quality candidates to fill jobs they may never have thought of pursuing.
THE SKILLS GAP
While New Jersey has strong biotechnology and technology sectors, related skills gaps are consistent with national and regional patterns across the country. A Deloitte Con- sulting and Manufacturing Institute survey found that 67 percent of respondents reported moderate to severe shortages of available, qualified workers to fill middle- skill positions and 56 percent of companies anticipate the situation to get worse.
For example, in New Jersey and New York, jobs for masons are expected to in- crease 40 percent through 2017, according to Economic Modeling Specialists. The U.S. Bureau of Labor Statistics estimates that these opportunities will grow from roughly 85,100 jobs in 2012 to 114,400 in 2022.
Nationwide, an estimated 2.7 million jobs are likely to be needed as a result of re- tirements of the existing workforce, while 700,000 jobs are likely to be created due
to natural business growth. The National Association for Business Economics found that factors contributing to the shortage
of skilled workers can be attributed to the negative image of the manufacturing in- dustry among younger generations, a lack of STEM (science, technology, engineering and mathematics) skills, and a gradual decline of technical education programs in public high schools.
THE SOLUTIONS
While skilled workers are in high demand, law schools graduate two students for every one job opening. More than one- third of working graduates are “under- employed” and working jobs that do not require a degree.
Landmarks.
There are landmarks in time, business, and throughout our region. Harrah
& Associates has been insuring families and businesses since 1955. During this time, we’ve been providing a unique depth of resources and flexibility of coverage so our clients can make their mark. It’s a firm footing that comes from cultivating confidence. It’s this enduring quality that will secure the future.
Steadfast.
(800) 641-9920 609) 587-8030 harrah-assoc.com
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