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The job market has an emerging problem, which could get worse if the economy doesn't improve.  Employers are increasingly adding more and more experience requirements to their job descriptions.  Entry level jobs are now up to 2-3 years of "relevant" experience.  Many blogs and recruiters confirm this in their articles and personel experience. 

http://blog.simplyhired.com/2012/08/entry-level-jobs-are-no-longer-...

http://rachelebean.wordpress.com/2011/05/03/perfect-entry-level-job...

http://www.city-data.com/forum/work-employment/1510321-you-need-deg...

There are a number of reasons for this.  The most glaring that I can see is that the job market is a lot worse than the folks at the Federal Bureau of Employment would have you think.  Incomes are going down because highly experienced proffessionals are having to accept jobs way below their level.  Companies see this as an opportunity and add experience to attract overqualified applicants.  These professionals are willing to take reduced level salaries just to stay on top of their bills and not go bankrupt.  As many as 50% of America is now considered underemployed.

I see this affecting college graduates in the future.  When companies start barring college graduates from their workforce, new ideas and modern business management methodologies do not get implemented.  Some of it is fear of change in senior management that does not want their old methods of managing their business to be supplanted by modern methods.

In the end, job skills can be learned rather quickly by someone that develops their analytical skills through formal education.  While it is true that some great leaders have limited educational backgrounds, the reverse is true as well.  There are many educated people that can do a better job than someone who has many years experience using old ways of doing things.

 

 

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Comment by Mandy Muffin on February 21, 2013 at 5:54am

Here is a comprehensive analysis by the Bureau of Labor Statistics of the trends for the rest of the decade. http://www.bls.gov/ooh/About/Projections-Overview.htm  I would look to health care or retail for a future growth, as the decline in the manufacturing sector are expected to continue as technology and moving work to cheaper marketplaces is expected to continue to erode this segment of the economy.

Comment by Mandy Muffin on February 21, 2013 at 4:51am

The labor participation rate has been in a total free-fall under the Obama administration. 

If you weed out the 24% of the economy that is government, the rate is even steeper.  There are fewer jobs and more applicants therefore employers can set standards higher.  It will happen every time.  In fact, that practice could be illegal but only in regards to protected individuals.  These include minorities, women, handicapped and older workers.  There is no protection for those who are not in these categories. 

I remember in my days as an Employment Manager for a major corporation that an open factory position was asking for 10years of experience in operating a punch press.  How long does it take to learn to run a punch press?  One day.  The rest of the time is spent keeping from having your fingers cut off.


Comment by exedir on February 20, 2013 at 10:32am

A lot of presented facts are opinions if not just expressions of what one think's are right.  We have degraded facts by having more ways of expression not necessarily scholarly research.  And the reason is fact is boring, and many times noninclusive subject to "further review" in that something changes, usually technology to measure and examine, "facts" and extend them, change them or declare them false.  

And this especially true to the science of economics, which is at its core, a social science.  So, what are the facts?  The fact is this economy is not working well, and that has to with growth and job creation.  

As to growth, there is no growth, that is, not enough growth to sustain a growth in employment.  As to jobs, jobs are not being created because these is no demand, demand for more labor.  However, that isn't true for every job category or location.  What is true is much of what is available for labor does not fit the expected qualifications for that labor such as education and experience.  And, no, not a question of general education, specific technical and professional qualifications most do not have.  As to the rest, well, good luck.    

Comment by MGDJ on February 19, 2013 at 8:30pm

If you read closely...I said UNDEREMPLOYED.

As far as relevant sources....take your pick...they are all over the news these days...

http://centerforcollegeaffordability.org/uploads/Underemployed%20Re...

http://usatoday30.usatoday.com/news/nation/story/2012-04-22/college...

http://www.forbes.com/sites/jamesmarshallcrotty/2012/03/01/most-col...

http://www.huffingtonpost.com/2012/04/22/job-market-college-graduat...

Mitt Romney even made reference to the lack of jobs for college graduates.

Even more research... http://www.heldrich.rutgers.edu/sites/default/files/content/Chasing...

 

 

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