Skills Gap Strategy Act of 2014 - Directs the Secretary of Labor to develop a strategy report to address the skills gap by providing analysis and recommendations to increase on-the-job training and apprenticeship opportunities, identify industry-recognized postsecondary credentials that are nationally portable and aligned with in-demand occupations in industries such as construction, manufacturing, and others that are emerging, and increase employer participation in education and workforce training.

Defines the term "skills gap" as the difference, or gap, between the current supply of labor and skills of the workforce and that which is desired by employers.