U.S. Industry Skills Gaps Hold Steady in Q3, Mirroring U.S. Unemployment Rate
October 27 2016 - 6:08AM
Business Wire
Strayer@Work Skills Index finds greatest gaps
in soft skills and IT skills across industries
Skills gaps in key U.S. industries held steady over the summer,
according to the latest Strayer@Work Skills Index, similarly the
U.S. unemployment rate was little changed at 5.0 percent.
Programming and enterprise software skills continued to show gaps
across all seven sectors analyzed in the quarterly index, which is
based on an analysis of select data provided by LinkedIn.
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U.S. Industry Skills Gaps Hold Steady in
Q3 (Graphic: Business Wire)
The gap for programming and software skills widened further in
Q3, increasing a full percentage point from the preceding quarter.
The gap in self-management skills (problem solving and time
management), shrunk but remains. Interpersonal, job-specific
(accounting, financial analysis, visual merchandising, etc.) and
general management skills remained in surplus in Q3.
“U.S. industries are being impacted by changes in technology and
global competition. Many employers are struggling to keep up and
cannot find candidates with the right skills to fill their open
positions,” said Karl McDonnell, CEO of Strayer Education, whose
Strayer@Work platform helps companies close critical skills gaps
through customized training and offers degree programs through
Strayer University.
“Companies can use the Strayer@Work Skills Index to understand
skill trends within and across industries to strategize and
optimize their hiring and training investments,” added Terry
McDonough, CEO of Strayer@Work.
In addition to the view of skills gaps across sectors of the
U.S. economy, the Strayer@Work Skills Index shows which specific
skills are needed within large industry sectors.
The Skills Index findings correspond with broader labor trends.
For example, the U.S. Bureau of Labor Statistics (BLS) found the
financial services sector has added 129,000 new jobs so far in
2016. The Skills Index findings show that many of the open
financial services positions require programming and IT skills.
Each study’s conclusions correspond with challenges that
established firms in the industry are facing from disruptive
financial technology companies, creating a higher demand for those
IT skills.
The BLS also shows the healthcare industry being similarly
transformed by technology. The industry is projected to grow by 19
percent from 2014-2024. Medical coding jobs are expected to
increase 15 percent by that time, explaining why the Skills Index
found that programming and enterprise software skills remain in
high demand in the industry.
To learn more about the Strayer@Work Skills Index and view the
interactive findings by industry, visit www.skillsindex.com and
follow the conversation on Twitter at @StrayerAtWork.
Methodology
The Strayer@Work Skills Index analyzed select skills in the
public profiles of LinkedIn members in the United States who work
in the financial services, food and beverage, healthcare,
hospitality, information technology, manufacturing, and retail
industries. It measures both the supply and demand of the select
skills. The supply side of the formula measures how prevalent
select skills are within the profiles of members in a particular
industry, relative to the overall population of LinkedIn members in
the U.S. The demand side of the formula shows how desired select
skills are within a particular industry, relative to its overall
demand, as measured by U.S. members who received an InMail message
from a recruiter within the past year.
A negative index percentage for a particular skill means there
is a shortage of people who have that skill to meet the industry’s
demand. A positive index percentage for a skill means there is an
oversupply of that skill within the industry.
About Strayer Education, Inc.
Strayer Education, Inc. (NASDAQ: STRA) is an education
services holding company that owns Strayer University and
the New York Code and Design Academy.
For more information on Strayer Education,
Inc. visit www.strayereducation.com.
About Strayer University
Founded in 1892, Strayer University is a proprietary
institution of higher learning that offers undergraduate and
graduate degree programs in business administration, accounting,
information technology, education, health services administration,
nursing, public administration, and criminal justice, to working
adult students. The University includes Strayer@Work, which serves
corporate clients by delivering the next generation of performance
improvement and workforce development. Strayer
University also offers an executive MBA online and corporate
training program through its Jack Welch Management
Institute. Strayer University is accredited by
the Middle States Commission on Higher Education, 3624
Market Street, Philadelphia, PA 19104
(267-284-5000). The Middle States Commission on Higher
Education is an institutional accrediting agency recognized by
the U.S. Secretary of Education and the Council for
Higher Education Accreditation.
For more information on Strayer
University visit www.strayer.edu.
About New York Code and Design Academy
New York Code and Design Academy (NYCDA) is a New York
City-based provider of non-degree web and mobile app development
courses. NYCDA courses are delivered primarily on-ground to
students seeking to further their career in software application
development. NYCDA does not participate in the Federal Title IV
lending program.
For more information on NYCDA visit www.nycda.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20161027005226/en/
Strayer UniversityRachel Richelieu,
202-557-4920Rachel.richelieu@strayer.edu
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