The U.S. economy is facing a skills shortage crisis in critical occupations, according to new research from the Georgetown University Center on Education and the Workforce. From 2024 through 2032, 18.4 million experienced workers with postsecondary education are expected to retire, far outpacing the 13.8 million younger workers who will enter the labor market with equivalent postsecondary educational qualifications.
Compounding the problem: the U.S. economy is expected to add 685,000 new jobs requiring postsecondary education and training over the same period. CEW’s research projects that the nation will need an additional 5.25 million workers with postsecondary education through 2032, 4.5 million of whom will need a bachelor’s degree or higher. CEW’s report explores the causes and magnitude of anticipated skills shortages through at least 2032. In addition, the study highlights nine occupations that will be particularly affected by skills shortages: accountants, attorneys, construction workers, doctors, engineers, managers, nurses, teachers, and truck drivers. CEW researchers also examine potential strategies to address and mitigate impending skills shortages and their economic impacts.