Manufacturing Skills Gap: Myth, Or Real Threat To Competitiveness?

During the early stages of the recovery, the skills gap in manufacturing emerged as a dispiriting paradox: with millions of people still out of work, manufacturers complained that thousands of positions remained unfilled for lack of qualified candidates. The anecdotal evidence was supported by a widening gap between job openings and new hires.The concern was that a misalignment between the skills needed by employers and those available in the workforce would hold back employment growth.Fast-forward to today and that concern seems ill-founded: The U.S. economy has created almost 19 million jobs since the current expansion phase started; we have 10 million jobs more than at the previous employment peak before the recession; the unemployment rate has dropped to 4.0%, well below the 2006-07 bubble average (4.6%).