More than 60,000 jobs in the business administration sector are in jeopardy after a federal review found that the industry is under-employed, underpaid, and undervalued.
The Government Accountability Office (GAO) said that as of June 2017, the workforce was “underutilized and underpaid.”
It added that the federal government spends more than $2 trillion annually on business administration jobs, with only $1.7 trillion of that going toward research and development.
The agency found that companies that had an annual payroll of $100 million or more spent just $10 million or less on research and technical support, which it called “underpaid and underperforming.”
The analysis found that more than half of the companies that applied for the lowest salary were unable to meet the hiring criteria because they didn’t have enough staff members.
In a statement, the GAO said that “it is critical that the business and regulatory environments are protected from job loss” and “the hiring of more people in this area is the only way to achieve that.”
The agency said that it will take several months to review the data.
The U.S. Department of Labor said it will be “conducting a thorough review” of the findings.