White House economists have identified a potential stumbling block to maintaining the U.S. economy’s momentum: a lack of well-trained workers.
The economy appears poised to expand this year at the fastest clip since the recession ended in 2009. That has allowed employers to extend their streak of consistent hiring, which began in 2010, and push the unemployment rate to nearly its lowest level in 50 years.
But there also is a growing gap between the rising number of job openings and the number of workers equipped to fill them, and this could limit growth in the long run, according to a paper from President Donald Trump’s Council of Economic Advisers released Tuesday.
“There simply aren’t enough unemployed workers in the current pool of those looking for work to match the growth in demand for new workers,” said the paper. “Continuing the momentum will depend on the availability of workers with the appropriate skills to take advantage of new job opportunities.”
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