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Much has been made about the skills gap that exists in the U.S. economy today. Employers argue that they cannot find qualified workers to fill open positions and sometimes ask for a higher level of education than the job requires in order to find the right candidate. New research from the Federal Reserve Banks of Philadelphia and Atlanta finds that the level of education requested to fill similar jobs across metro areas in the U.S. varies substantially. Employers’ preferences for a bachelor’s degree are higher where recent college graduates are relatively more numerous, where wages are higher, in larger metro areas, and in the Northeast. The report finds this to be true overall and for four middle-skills occupations that can provide less-educated workers with a toehold in the middle-class.
The status quo is counterproductive for both workers and employers. Are there solutions that connect talented workers with decent-paying jobs based on their demonstrated skills and competencies rather than on their degree?
Tune in to this free, one-hour Connecting Communities® webinar to hear from leading experts within the Federal Reserve and across the field as they engage in a dialogue about recent research and current initiatives to close the skills gap.
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