Skills mismatch in the Fourth Industrial RevolutionA recent paper on “The Future of Jobs” by the World Economic Forum (WEF) disclosed the perils of jobs-skills mismatch when the Fourth industrial Revolution (FIRe) finally becomes a full-time reality. The Revolutions The Second Industrial Revolution began in 1870 when industry started to exploit natural and synthetic materials like lighter metals, alloys and plastics, and searched for new energy sources. The assembly line gave way to the “automatic factory” that benefited from new inventions in machinery, tools and early computers. The oligarchical ownership of the means of production gave way to wider ownership through common stocks.In 2011, Jeremy Rifkin published his book on the Third Industrial Revolution that began in 1969, which he premised on the convergence of new communication technologies with new energy regimes. The “sharing economy” is also a crucial element of this stage. This revolution … [Read more...] about Skills mismatch in the Fourth Industrial Revolution
Mismatch labor market
Aaron Benike needs journeyman carpenters and project managers in his commercial construction business in Rochester. Loren Nelson needs welders and computerized machine controllers in his equipment manufacturing shop in Braham. Neither man’s business lacks for work. Instead, they lack for workforce. Workforce development has bedeviled Minnesota for roughly a decade, partly because of an aging baby boom population that produces so many retirees that the labor pool struggles to replace. But well beyond demographics, a mismatch persists between good jobs and available applicants. Federal and state programs and millions of dollars have not yet solved the problem and may not do so for a long time. “The reality in Minnesota is that there are not enough bodies to go around,” said Nelson, a member of the Governor’s Workforce Development Board. The board includes leaders from the business, labor, education and government sectors, as well as community groups. It advises … [Read more...] about Skilled labor remains big issue for Minnesota employers
ADDRESSING THE NAGGING JOBS-SKILLS MISMATCHA former Education secretary once said, “That there is a jobs-skills mismatch is a foregone conclusion. That we can solve it in our lifetime is uncertain.” He’s right; shortly after his term, his lifetime expired, but the issue lingers. What’s this mismatch? There’s a jobs-skills mismatch when the level or type of skills of jobseekers does not match the level or type of skills required in the workplace. It is horizontal when the type of skills is not fit for the current job, although it generally matches the requirements of the job. There is a vertical mismatch when the level of skills is higher or lower than the level of skills required for a certain job. There is a geographical mismatch when the workers with types or levels of skills are based in a place different from those where such skills are needed.Ours is a labor surplus economy. At least 4 million Filipinos are jobless as we write; half of these are … [Read more...] about ADDRESSING THE NAGGING JOBS-SKILLS MISMATCH
Is a college degree really worth it?IT is conventional wisdom among Filipino families that their children should get a college degree to a land a good and stable job. I know a lot of people who worked two jobs or endured financial hardships just to put their kids through college. Some families have even gone to the extent of sacrificing the education of their other children just to make sure one “talented” child finished college, hoping he or she would be their way out of poverty. It’s a ritual that’s getting harder every year. Tuition and miscellaneous fees in private high schools, colleges and universities across the country continue to rise. I can only imagine how high tuition fees would be 10 or 20 years from now. But is a college degree really worth it? The numbers don’t appear to support that largely anecdotal theory.For the past 10 years, the country has been churning out more and more college graduates. The number of college graduates produced by … [Read more...] about Is a college degree really worth it?
Private sector urged to aid TVET programsThe private sector should increase its participation in honing the technical and vocational education and training (TVET) to meet industry need for workforce, the Philippine Chamber of Commerce and Industry (PCCI) urged. “What industry has always been after is that the offerings of our schools better cater to the needs of the labor market and avoid oversupply of graduates of programs with low industry demand,” PCCI-Batangas President Carlo Mendoza said during the 9th Regional Policy Dialogue held recently in Bangkok, Thailand. PCCI-Tarlac President Mai Cayanan, meanwhile, pointed out that the curriculum being used in education and training facilities should be closely based on industry practices to avoid being “alienated” with the work settings.The business group stressed that local chambers, industry organizations and enterprises could share their knowledge and expertise in coming up with competency standards, assessment … [Read more...] about Private sector urged to aid TVET programs