A recent analysis by consulting firm Korn Ferry indicates that a growing population of young adults are becoming discouraged by their employment prospects. This cohort, which the report identifies as “Not in employment, education, or training” (NEET) represents individuals who could work but are not employed.
Analysts say that many of these NEETs have worked in the past, are educated and qualified for the positions they’re seeking, but have lost their jobs – often for reasons beyond their control – or were unable to find employment following graduation. According to the report, more than half of those in this circumstance report being completely burnt out by their employment hunt. Many of these employable workers report being unemployed for periods of two years or more.
While unemployment has remained relatively low over the last three years, there has not been much change in the employment numbers, meaning that the job market has achieved a stasis. For those who are already employed, changing jobs has become more difficult. For those who are not employed, their prolonged unemployment has made it extremely hard for them to re-enter the labor market in roles for which they are trained or otherwise qualified.
KF’s analysts speculate that employers are making a strong effort to hang onto certain skilled workers, which makes it more difficult for qualified but unemployed persons and employed persons seeking new jobs to move around in the job market. The analysis also suggests that employers began altering their hiring practices during the pandemic, in anticipation of a recession that never materialized. Those restrictive hiring practices have tightened the job market for new job seekers. Those practices are unlikely to loosen, at least until after the presidential election.
Community colleges could do more to improve employment prospects
The emergence of NEETs should raise significant concern among higher education institutions. Fairly or not, a graduate’s relative employability reflects on the prospective worker’s alma mater. One potential strategy to help graduates make themselves more employable (or more retainable) is to provide specializations, certifications, or continuing education opportunities.
Additionally, higher education institutions should evaluate emerging industries for opportunities to provide instruction that will enable students to acquire in-demand skills. For example, computer science curricula should include data analysis, artificial intelligence, and accessibility programming as required elements. A similar option would be to offer core curriculum in a degree field, along with specialization courses.
It is also becoming clear that community colleges need to focus more intently on developing and enhancing curriculum for high-demand fields. At the same time, they must eliminate programs that do not allow graduates to enter the job market or earn a living wage.
Photo Credit: Jonathan
