High Unemployment and Job Skills by Mariah Hosey* (Guest author)

“Record-breaking unemployment rate” could be the scariest thought for young people these days. Why does the unemployment rate affect young people, though? Aren’t overqualified and overpaid old guys the ones who should be worried? In some cases this is true, but the unemployment rate includes young people and it affects us, as well.

We have spent our entire lives preparing to do one thing: to work. We go through 12 years of schooling, try to get into good colleges, and boost our resumes. We plan on graduating college with a job already lined up. Unfortunately though, many recent grads cannot find good jobs and are moving back in with their parents. And it’s not always their fault. Many of them have prepared well and are still not reaping the expected rewards.

So what’s the problem in the job market? Many companies have cut costs, and more and more of them have been outsourcing jobs. Some experts say there is a mismatch in what skills are needed and who is available to do the jobs. So why not train people in the areas that are needed? We need to be doing that for available jobs that are going unfilled. However, other experts say that there isn’t enough demand to hire more people. And, if there is no demand, there will be no jobs.

Matthew Yglesias, in a recent article about the mismatch in job skills, says that the mismatch phenomenon is widely misunderstood. It’s not necessarily that people aren’t qualified for available jobs; it’s that other factors often keep people from gaining the necessary skills.

Take surgeons, for example. Yglesias points out that we never hear about an unemployed surgeon. In fact, there is a heavy demand for more surgeons. How can this be? Congress controls the supply of physicians by controlling the federal funding for medical residencies — the graduate training required of all doctors. The funding hasn’t grown for the last 30 years! Current studies show that we need more surgeons and primary family physicians. Congress will need to act to create more residency opportunities in this highly skilled area to meet the growing demand.

Quick Thought:  There have not always been smartphones but, nevertheless, there are well-trained people available to sell smartphones. People had to be trained from scratch on how to sell these newer products. GO, SEEK, and CHECK OUT those new industries where companies are willing to train their employees from the ground up!

READERS, what do you think?

• What do you think you could do to improve your chances of finding the job you want?
• If you looked for a job while in high school, or during a summer or holiday, were you able to find what you wanted?
• What do you think the educational system could do better to prepare the workers of the future?
• What do you think is the government’s responsibility to improve the employment situation?

 

Let us know by leaving your comments!

 

*Mariah Hosey is an undergraduate student with UK Department of Family Sciences

 

Reference:

Yglesias, Matthew. (2012, September 6). On skills-mismatch: If we all got taller, that wouldn't turn us all into NBA players. Slate. Retrieved September 7, 2012, from http://www.slate.com/blogs/moneybox/2012/09/06/the_skills_mismatch_fallacy.html.