Created by NoGRE.com

Bridging the Gap in Today’s Skill Lacking Economy


The staff at NoGre.com decided to focus on the extreme skill gap in today’s economy. Is it a skill gap or education gap? The growing gap between the market places’ current skills and the future capabilities of the marketplace to meet the needs for future development is what is being called the Skills Gap.  Organizations and companies in the US and across the globe are noting this every widening gap.  Even more disturbing is the large unemployment rate still plaguing the US and other economies.  The skills gap, if left unchecked, will have lasting effects on business, the economy, and the world at large. This visualization was based on two prestigious reports from National Institute of Standards and Technology (NIST) & Mckinsey Center for Government.

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TOP REASONS FOR THE SKILLS GAP

According to ASTD’s member survey:

  • Skills of the workforce don’t match company strategy, goals, markets, or business models
  • Lack of bench strength in the company’s leadership ranks
  • Less of an investment in training/lack of support for employee learning and development in training/lack of support for employee learning and development

44%: US students believe their postsecondary studies (post-high school) improved their employment opportunities

New graduates are adequately prepared for entry-level positions”

  • 50% of youth and employers believe the above statement is true
  • 72% of education providers believe the above statement is true

“The main reason students drop out is that the course of study is too difficult”

  • 39% of education providers believe the above statement is true
  • 9% of youth say the above statement is true (affordability is cited as the main reason)

2/3: Education providers that report they are able to estimate the job-placement rate of their graduates

20%: Education providers over estimate the job-placement rate of their graduates compared with what was reported by youth themselves

60%:  Youth say that on-the-job training and hands-on learning are the most effective instructional techniques

½:   Those above are enrolled in curricula that prioritize those techniques