Labor Pool Challenges Essay Example | Topics and Well Written Essays - 500 words

Labor share Challenges - Essay ExampleFor example, in the 21st century, 60% of new jobs require one to have at least post-secondary education. Contrarily, an estimated one third of Americas work force has attained this level of education (Lebergott, 2014). The unvarying process of innovation as well as technological changes has resulted in the motor vehicle perseverance related jobs demand even higher skill levels.According to United States Department of Labor (2015), the part of computers and Internet has redefined and reorganized work skills required at the workplaces. Most jobs now require education and training. As cited by Cascio (2012), structural unemployment results because of the mismatch of skills of the unemployed persons and the skills required for the available job. Evidence has demonstrated that the percent date of the workforce having graduated with college degrees is growing at a very s subaltern rate. It has also been projected that in the beside two decades, th ere will be virtually no growth in the prime age workforce 25-54 years. This would result in a substantial reduction in skill growth. With few sight having the required skills and education, there is insufficient supply of skilled in the labor pool for the automobile sector. In a view shared by Farmer, people with higher education levels face very low rates of unemployment. He reported workers aged 25 years or more, the unemployment rate was 4% for those with a bachelors degree or higher, 6% for those with a degree, 9% for high school graduates and 12% for those with less than a high school diploma (Farmer, 2011). A can manufacturing or distribution firm with insufficiently educate labor force faces high turn over, low levels of employee performance, low productivity, high accident rates, unconventionally administered facilities, and improper resource allocation, as well as lack of