Disparity between workers skills and job requirements


  • Skills mismatch

Nature

There is a growing disparity between the skill-structure of those seeking work and available vacancies, with a consequent growth in the share of 'structural' or 'frictional' unemployment.

Accelerating technological change and an ageing workforce with skills that need updating can lead to a situation where a need for skilled personnel and unemployment are coinciding.

Background

The "Knowledge Paradox": technological skills will be needed at a point in the future where not enough young people are born to learn them and where the contribution of the older generation is urgently needed to cover the gap. This will make a reform of our current education system indispensable.

Broader


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