Global Perspective

Although priorities vary when it comes to economic development, the increasing need for skilled labour is both a cause of and a requirement for accelerated growth that spans markets and continents. This demand for technical specialists from Mexico to Indonesia is often most concentrated in the sectors that are vital to economic advancement, including infrastructure, oil and gas exploration and extraction, and value-add processes for agricultural commodities. Efforts to expand this expertise locally, rather than relying solely on international organisations or expatriate leadership, have come to the fore in recent years, both as part of individual country schemes and multinational efforts. As a result, markets around the world are using a range of strategies to overcome common challenges and align legal frameworks, policies, and education and training systems with industry needs.

Skills Mismatch

On average, global unemployment remains an ongoing challenge, particularly in developing economies. According to the “World Employment and Social Outlook: Trends 2018” report by the International Labour Organisation, the number of unemployed people around the world is expected to fall by 400,000 in 2018 to just over 192m, compared to a 2.6m increase in 2017. The report credits the stabilisation of unemployment to growth in developed markets where numbers will dip to pre-crisis levels. Developing countries, on the other hand, will continue to see unemployment rise. Provision of employment opportunities is acknowledged as a global need by international entities like UNESCO, which estimates that at least 475m new jobs need to be created over the next decade to absorb the 73m currently unemployed youth population, as well as the influx of 40m new entrants to the labour market per year.

Read the full Global Perspective in The Report: Morocco 2018