Despite the fact that there are currently 3.5 million open jobs in the U.S., 12.5 million people remain unemployed.
To put Americans back to work and fuel our growing population, the U.S. will need to create 21 million new jobs by 2020.*
The Growing Skills Gap
While more than one-third of all companies have open positions which they can't fill, many candidates are also having a hard time finding jobs for which they're qualified. Employers and candidates are misinterpreting each other's intentions, leading to an increase, not a minimization, of the current skills gap.
About 60 percent of companies aren't doing anything at all to bridge the skills gap, and job candidates are seeing and feeling the effects of the skills gap as well: Around 25 percent have been laid off since 2008. Despite this setback, candidates are willing to learn new skills, compromise on benefit packages, participate in training and change fields.
It's up to employers to give them a chance.
*Moody's Analytics; McKinsey Global Institute analysis.