JUST THE FACTS: The 21st Century Workforce www.uschamber.com/cwp In a knowledge-based, global economy of the 21st century, a well-educated workforce is the key to innovation, economic development, and a U.S. economy that remains the world’s leader. We face a current and growing crisis. For example: Business faces a current shortage of trained personnel both in entry-level and highest skill level occupations. Business spends billions each year to train new employees and remediate the educational skill gaps of those hired. Some 40% of tomorrow’s jobs don’t exist today—much of this can be attributed to rapid changes in technology. Only 20% of today’s workers have the skills that 60% of tomorrow’s jobs will require. In 1950, 80% of jobs were classified as “unskilled.” Today, an estimated 85% of all jobs are classified as “skilled.” About 75% of today’s workforce needs training just to keep the jobs they currently have. According to the U.S. Dept. of Labor, 90% of the fastest growing jobs will require some form of postsecondary education. Individuals with a college degree can expect to earn twice as much as those with a high school education. 30% of students who start high school don’t finish in four years. The percentage is far higher for African-American and Hispanic students who will make up an increasingly larger share of the workforce in the coming years. The American workforce is aging. By 2010, nearly one in three workers in the United States will be over the age of 50, and over the next few decades more than 77 million Baby Boomers will be eligible for retirement. JUST THE FACTS: The 21st Century Workforce These facts have been taken from the Aspen Institute, U.S. Department of Education, and the U.S. Department of Labor.