This misconception has been perpetuated by big business to free them of the guilt of not training entry level workers, or paying high enough wages to attract those talents they want. But the reality of job markets is that most workers are not “top talents” and most businesses are too scared of sudden downturns to pay higher wages, so many job seekers won’t accept those low pay and don’t get hired. So while I believe most workers eventually find their job, they remain frustrated, and we all know in the post-financial crisis world, big businesses hold all the power in the Developed World economy.
Today, over seven years since the last global financial crisis, there are still six unemployed people for every vacant job in Ontario. Even researchers at TD Economics, not known for being rabble-rousers, have poured cold water on the skills gap myth. Their research brought together Canada’s patchwork of labour-market data and compared indicators such as unemployment and vacancy rates across time and particular occupations. Their conclusions accord with what those who have disputed a skills shortage have long said. Namely, the skills gap narrative is haunted by labour market perceptions that don’t align with reality: workers not keeping up with technological advances; universities pumping out the wrong graduates; or workers entering the workforce without enough universal “soft skills”. In fact, a comprehensive review of studies from the United States published in 2014 showed the exact opposite problem: many workers are overqualified for their jobs!