Lesson 3 Part 1
Table of Contents
Text and Images from Slide
Current Labor Supply
- Quantity
- BLS Current Employment Statistics
- Quality
- Survey organizations/HR professionals
- Demand for advanced skills appears to be increasing more quickly than the supply of skilled workers (although both are increasing) (p. 98)
Lecture Notes
Now we're also interested in our current labor supply. For this we can look at, as far as nation level data, at the bureau of labor statistics current employment statistics. You can look up currently as far as the best data we have, show what would be the quantity of individuals in various jobs in various regions. We also look at quality through surveys of organizations and HR professionals. Your book points out certain findings from surveys of HR professionals. Among other things they point out the demand for advanced skills appears to be increasing more quickly in the supply of skilled workers but notably both are increasing. In other words, it's not quite as dismal as you might think. It's not that people are kind decreasing in their skills it's just that the demand for skills is increasing more quickly than the skills of workers.