The release of today’s Jobs Report shows the lowest unemployment in the US since 1969 and CareerBuilder is now predicting that an additional 8,310,003 jobs will be created over the next 5 years. CareerBuilder CEO Irina Novoselsky says that technology is driving that growth, whether the job is a technology-oriented job or a traditional manufacturing job, technology skills are now required.
Technology is driving a lot of that growth. You are seeing it in two ways, both on new industries that are emerging such as AI, robotics, cybersecurity, as you would expect, and the high wage earners are seeing a lot of that growth in jobs like nursing and software development.
We are also seeing a lot of growth on the low wage in industries that are really the American fabric such as manufacturing. What’s really driving some of the conversations around that is the technology aspect and the skill deficit that’s happening as part of that.
The top is growing, the bottom is growing, and really the middle is stuck in a dilemma where they have to get more skillset if they are going to get there. They are either going to go up or they are going to be left behind.
Employers are saying that 70 percent of their jobs have a major technical component, including in manufacturing. A machinist today has a big technical aspect to their job, more than even a few years ago. Consumers and employees are left looking at how do they upscale and career path in non-traditional ways?
The four-year education model is really difficult for them, it’s budget constraint, time constraint, so they are looking for unique opportunities to get that education and that skillset and in non-traditional ways.
One of the things employers are doing is creating that competency skill training internally. What’s happening is that there are not enough of the skilled employees to recruit. One of the largest things employers are dealing with is open roles for a very long period of time and they are maneuvering this talent deficit by taking it on themselves.
One of the things that we are doing is no longer mandating a 4-year college degree for some of our roles. We are taking on the onus to bring in the people and train them ourselves. It’s a great opportunity for middle wage earners to start upscale and career pathing, learning the technology skill sets to move up or they are going to be left behind.