More than three years since the start of the pandemic, employment prospects for 15-24 year olds have become even more challenging, as they face multiple disruptive trends such as the acceleration of digitalization and low unemployment in many economies. For the labor market to function well, we must do a better job of preparing this critical segment of the workforce for a successful future. That’s why on 15 July, I encourage you to recognize World Youth Skills Day, and think about what you can do to equip young people with competencies that will enhance their economic future while supporting the workforce needs of the global economy.
Tending to youth workforce needs has become more urgent due to the fallout from the pandemic. The UN and PwC estimates that by 2030, a staggering 60% of the world’s 1.8 billion young people will lack the essential skills needed for the labor market. As the skills gap continues to widen, organizations should more actively support the growth of next-generation workers and offer an equitable entry into the labor market. This will ensure a more robust and skilled talent pool while building their employer brand.
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