[IMGCAP(1)]Concern over the recession and double-digit unemployment has overshadowed what promises to be nothing short of an HR tsunami: the increasing shortage of qualified workers for the new economy’s high-skilled jobs. However, changing the Tax Code to make training a capitalized business expense would go a long way toward turning the tide.

We are in the midst of one of the most sweeping talent realignments across the entire U.S. labor-economic market since the Industrial Revolution. It’s estimated that this year, employers will be unable to fill five million “STEM” jobs in science-, technology-, engineering- and math-related occupations, while millions of low-skilled Americans remain jobless. By 2020, that number will rise to 20 million unless employers and lawmakers take steps to retool the American workforce.

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