Finding a good job is increasingly difficult – especially for young people. Globally, young people are up to four times more likely to be unemployed than adults. Furthermore, the lack of opportunity can have devastating consequences for their long-term employment outcomes. Youth often lack the skills and competencies that are in high demand from employers, but they also face information gaps about which relevant skills they should signal to prospective employers.
To better understand youth and skills trends in emerging markets, the Solutions for Youth Employment (S4YE) Coalition embarked on a research collaboration with LinkedIn to analyze demand and supply side data from 390,000 entry-level job postings and 6.4 million LinkedIn profiles of young people (aged 21-29) in four diverse middle-income countries. Using big data analytics, the recently released report The Skills Gap or Signaling Gap: Insights from LinkedIn in emerging markets of Brazil, India, Indonesia, and South Africa brings the following three insights on what skills employers in those countries are looking for in youth hires.
East Asia and Pacific
As we discussed in our previous post, Global Value Chains can lead to the creation of more, inclusive and better jobs. . However, there is a potential trade-off between increasing competitiveness and job creation, and the exact nature of positive labor market outcomes depends on several parameters. Given the cross-border (and, therefore, multiple jurisdictive) nature of GVCs, national policy choices to strengthen positive labor outcomes are limited. However, national .
In recent years, the minimum wage has become an increasingly popular for reducing inequality in many emerging markets, while others are still weighing whether to adopt one. But a lot of confusion still surrounds the impact of minimum wages in advanced economies, let alone in the emerging markets. In this blog, we speak with two experts on the topic: David Neumark (Professor of Economics, University of California, Irvine) and John T. Addison (Professor of Economic Theory, University of South Carolina). They both point to some job loss, especially for skilled workers, in advanced economies.
Click here to read the English version.
As Japan searches for ways to cope with a shrinking and aging workforce — along with the need for a more innovative workforce to help pull it out of decades of stagnation — it is becoming increasingly clear that business as usual is no longer an option for several reasons.
Click here to read the Japanese version.
Over the past 5 to 10 years, many East Asian countries, not just China, continued to reduce poverty despite an economic growth slowdown surrounding the 2008-2009 global financial crisis. Which factor played the biggest role in the further progress against poverty? Our research suggest that access to work and better earnings are an essential component of poverty reduction.
Could the source of the wealth of nations be learning to learn? A recent paper by Luke Jordan, who until late 2013 was a Private Sector Development Specialist for the World Bank, along with Sébastien Turban of Caltech and Laurence Wilse-Samon of Columbia University, contends that the answer is yes.
The Philippines is not the typical East Asian miracle story. While the region's share of population living in extreme poverty (on less than US$1.25 a day) has declined by 75 percent since 1990, the speed of poverty reduction in the Philippines over this period was the slowest in East Asia. Similarly, the Philippines has experienced slower per capita growth — averaging 1.5 percent between 1960 and 2012, well below the 5.6 percent that East Asia has enjoyed. Moreover, the jobs picture is quite bleak, with 75 percent of employment in the informal sector. So what's wrong with the Philippines?