Something is clearly broken in the labor market. The problem may not be the skills workers ostensibly lack. It may be that employers' expectations are out of whack, according to a paper by a Wharton School management professor,Bloomberg Businessweek reported.
Professor Peter Cappelli found that in 1979, young workers received an average of 2.5 weeks of training per year. That dropped quickly.
In 2011, an Accenture survey of U.S. employees found that only 21 percent had received any employer-provided formal training in the past five years. "That means almost 80 percent had no training in five years," Cappelli wrote.
In addition, career and technical education (CTE) has declined in favor of traditional four-year colleges. The average number of CTE credits taken per student fell by half from 2000 to 2005.
To make a difference in the broader economy, Cappelli said, businesses need to bear more of the burden in training workers and giving them the experience that is so valued.