| | DECEMBER - 20228IN MY OPINION There is a clear opportunity to close the achievement and skills gaps by better aligning what is taught in the classroom with the skills employers need through competency-based education paired with skills based hiring and on the job training. Our nation's continued focus on college as the preferred pathway to economic mobility in no longer serving students or employers, who are increasingly taking education and training matters into their own hands. Universities can either join forces with employers or be left behind.The U.S. labor market continues to tighten while millions of Americans struggle to make ends meet. As of July 2021, the U.S. had a real unemployment rate of 9.2%, with 52 million Americans making under $35,000 per year. At the same time, the U.S. labor market is now the most competitive talent market in recent history. Workers are increasingly seeking better employment opportunities, and employers of all sizes across most industries are struggling to hire qualified candidates. The Bureau of Labor Statistics reported 8.1 million open jobs in the U.S. at the end of March 2021, the highest amount since the bureau began tracking the data in December 2000. In its May 6, 2021 jobs report, the National Federation of Independent Business reported that a record 44% of small-business owners reported job openings they could not fill in April 2021, up from 24% in April 2020, and up from the average of 22% over the past 48 years.As competition for workers increases, hiring mangers are adopting innovative ways to find and keep the qualified candidates that have the skills needed to succeed. Chad Moutray, NAM Chief Economist, said "Manufacturers consistently cite the inability to attract and retain talent as their top concern, and, they are BRIDGING THE GAP FROM EDUCATION TO EMPLOYMENTBy Mark Grovic, Co-Founder and General Partner, New Markets Venture PartnersMark Grovic
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