The divide between what schools teach and what companies need is not only impacting Gen Y's job prospects but also the rest of the world's future.
December 17, 2014
When you hear the word millennials, you may expect common and rather trite complaints about them being tech crazed, entitled and lazy. These may or may not be true, but more importantly, this demographic group — a growing super power in workforce numbers and influence — may be at a serious disadvantage with regard to their future prospects.
According to a new report, “The Future of Millennial Jobs,” from national nonprofit organization Young Invincibles, this cohort of the labor force — and economic growth in general — may be in jeopardy if higher education doesn’t align itself better with market demands. Many adults ages 18 to 34 aren’t being equipped with the knowledge and skills they need to navigate workforce opportunities.
Analyzing data from multiple surveys evaluating millennials in the workforce, projected economic trends and employer demands, the report’s authors Tom Allison and Konrad Mugglestone say despite a declining unemployment rate, millennials are struggling along in low-wage sectors that aren’t setting them up for careers or financial security. “With millennials expected to make up 50 percent of the workforce by 2020, everyone has a stake in our generation’s success. Policymakers must work to align our higher education system with new demands in the workforce.”
Learning leaders take heed. You have to teach the skills employers want, or we may all suffer in the long run.
Click here to read the report.