why are medium and higher level of occupation required in the country?
write two reason for each?
Answers
Explanation:
Globalization and advances in science and technology are transforming nearly every aspect of modern life, including how we communicate with each other, how we shop, how we make things, and how and where we work. In response, US firms are seeking workers with greater proficiency in basic literacy and numeracy as well as more developed interpersonal, technical, and problem-solving skills. For the United States to remain competitive on the world stage while fostering greater innovation and boosting shared prosperity, it needs not only a sufficient number of workers, but also a workforce with the right mix of skills to meet the diverse needs of the economy and to fully engage in civic life.
Yet employer surveys and industry reports have raised concerns that an inadequate supply of skilled workers could hamper future economic growth by creating barriers for firms looking to locate or expand in the United States. Indeed, there has long been a concern that shortages sometimes develop and persist in specific industries or occupations, leading to inefficiencies in the economy. More recently, it has been suggested that the lack of skilled workers has made it difficult to fill jobs that are in high demand during the economic recovery, leading to slower than expected improvement in the labor market—particularly among “middle-skill” jobs that require some postsecondary education and training, but less than a four-year college degree.
Compounding the problem in the middle-skill sector is a demographic shift in which a significant portion of the existing workforce consists of baby boomers nearing retirement, with fewer younger workers to replace them. At Boeing, for example, 28% of the firm’s 31,000 machinists are older than 55 and eligible for retirement. The combination of the upward shift in skills on the demand side and the decline in the number of experienced workers on the supply side is likely to give rise to the sorts of labor market anxiety that is reflected in employer surveys, particularly in health care, manufacturing, and production. However, few employers have raised wages in response to the difficulty in hiring skilled workers, although some reports indicate that this may be due to competitive factors in industries where the pressure to limit costs is great and outsourcing is an option.
This potential mismatch in the labor market has important implications for both the economy and the individual worker. For the economy, an insufficient number of middle-skill workers means that the rate at which employment and output can grow is constrained. Slower employment growth means tighter labor markets that may require firms to find innovative ways, such as outsourcing or automation, to increase