Unconventional Knowledge About Skill Development

 The skill development can contribute to structural variation and economic growth by enhancing employability and labor productivity and helping countries to become more emulative. Investment in a high-quality workforce can create a  smashing cycle, where relevant and quality skills enable productivity growth and foreign direct investment, which result in more and better jobs for the current workforce and more public and private penetration in the education and training system. This, in turn, increases the employability and productivity for both the  present and future workforce.

Yet,  major countries continue to  diligence in delivering on the promise of skill development. There are enormous gaps in basic literacy and numeracy of working-age populations, as 750 million people aged 15+ (or 18 percent of the global population) report being unable to read and write, with estimates being nearly twice as large if literacy is measured through direct evaluation. Large-scale international evaluation of adult skills generally point to skills mismatches as well as large variation in the returns to education across fields of study, institutions, and population groups. Employers in many developing countries report that a lack of skilled workers is a major and increasing bottleneck for their operations, affecting their capacity to modernize.

The COVID-19 pandemic has brought the pre-crisis vision of right, relevant, and quality skills development into smoothie relief, adding unforeseen urgency to the calls for reform and highlighting the huge costs of inaction.

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