WASHINGTON--(BUSINESS WIRE)--
Skills gaps in key U.S. industries held steady over the summer, according to the latest Strayer@Work Skills Index, similarly the U.S. unemployment rate was little changed at 5.0 percent. Programming and enterprise software skills continued to show gaps across all seven sectors analyzed in the quarterly index, which is based on an analysis of select data provided by LinkedIn.
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U.S. Industry Skills Gaps Hold Steady in Q3 (Graphic: Business Wire)
The gap for programming and software skills widened further in Q3, increasing a full percentage point from the preceding quarter. The gap in self-management skills (problem solving and time management), shrunk but remains. Interpersonal, job-specific (accounting, financial analysis, visual merchandising, etc.) and general management skills remained in surplus in Q3.
“U.S. industries are being impacted by changes in technology and global competition. Many employers are struggling to keep up and cannot find candidates with the right skills to fill their open positions,” said Karl McDonnell, CEO of Strayer Education, whose Strayer@Work platform helps companies close critical skills gaps through customized training and offers degree programs through Strayer University.
“Companies can use the Strayer@Work Skills Index to understand skill trends within and across industries to strategize and optimize their hiring and training investments,” added Terry McDonough, CEO of Strayer@Work.
In addition to the view of skills gaps across sectors of the U.S. economy, the Strayer@Work Skills Index shows which specific skills are needed within large industry sectors.
The Skills Index findings correspond with broader labor trends. For example, the U.S. Bureau of Labor Statistics (BLS) found the financial services sector has added 129,000 new jobs so far in 2016. The Skills Index findings show that many of the open financial services positions require programming and IT skills. Each study’s conclusions correspond with challenges that established firms in the industry are facing from disruptive financial technology companies, creating a higher demand for those IT skills.
The BLS also shows the healthcare industry being similarly transformed by technology. The industry is projected to grow by 19 percent from 2014-2024. Medical coding jobs are expected to increase 15 percent by that time, explaining why the Skills Index found that programming and enterprise software skills remain in high demand in the industry.
To learn more about the Strayer@Work Skills Index and view the interactive findings by industry, visit www.skillsindex.com and follow the conversation on Twitter at @StrayerAtWork.
Methodology
The Strayer@Work Skills Index analyzed select skills in the public profiles of LinkedIn members in the United States who work in the financial services, food and beverage, healthcare, hospitality, information technology, manufacturing, and retail industries. It measures both the supply and demand of the select skills. The supply side of the formula measures how prevalent select skills are within the profiles of members in a particular industry, relative to the overall population of LinkedIn members in the U.S. The demand side of the formula shows how desired select skills are within a particular industry, relative to its overall demand, as measured by U.S. members who received an InMail message from a recruiter within the past year.
A negative index percentage for a particular skill means there is a shortage of people who have that skill to meet the industry’s demand. A positive index percentage for a skill means there is an oversupply of that skill within the industry.
About Strayer Education, Inc.
Strayer Education, Inc. (NASDAQ: STRA) is an education services holding company that owns Strayer University and the New York Code and Design Academy.
For more information on Strayer Education, Inc. visit www.strayereducation.com.
About Strayer University
Founded in 1892, Strayer University is a proprietary institution of higher learning that offers undergraduate and graduate degree programs in business administration, accounting, information technology, education, health services administration, nursing, public administration, and criminal justice, to working adult students. The University includes Strayer@Work, which serves corporate clients by delivering the next generation of performance improvement and workforce development. Strayer University also offers an executive MBA online and corporate training program through its Jack Welch Management Institute. Strayer University is accredited by the Middle States Commission on Higher Education, 3624 Market Street, Philadelphia, PA 19104 (267-284-5000). The Middle States Commission on Higher Education is an institutional accrediting agency recognized by the U.S. Secretary of Education and the Council for Higher Education Accreditation.
For more information on Strayer University visit www.strayer.edu.
About New York Code and Design Academy
New York Code and Design Academy (NYCDA) is a New York City-based provider of non-degree web and mobile app development courses. NYCDA courses are delivered primarily on-ground to students seeking to further their career in software application development. NYCDA does not participate in the Federal Title IV lending program.
For more information on NYCDA visit www.nycda.com.
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