After a presidential campaign that focused on providing jobs in America, it turns out we have plenty: roughly six million jobs in search of qualified applicants.
The Bureau of Labor Statistics announced this week that there is a historic record of 6.16 million jobs available, up from 5.7 in May.
KTRH Money-Man Pat Shinn, a certified financial consultant with Heritage Asset Advisors, cites specific details. “When you look at the JOLT Survey, there were 6.2 million jobs available the last business day of June, and that’s the highest it’s ever been on record, and I think a big part of it is a lot of those jobs people are just unqualified for.”
The National Federation of Independent Business found 60% of businesses are looking to hire, however 52% say they have few or no qualified applicants.
Shinn says we’ve gone astray in how we prepare our workforce, placing too much emphasis on four year degrees and the expectations of college graduation. “When you get out of college you are assured of getting a higher paid job, and the reality is there are not enough welders, not enough plumbers, not enough truck drivers, etc.”
While the number of jobs increases, according to JOLT, the number of hirings and separations is decreasing.