Europe’s young people lack the skills for work despite record levels of unemployment, according to a report by the US-based consultancy giant McKinsey
In its study, “Education to Employment,” published yesterday, McKinsey said one in three firms feel that a lack of skills among Europe’s youth posed major business problems, in the form of cost, quality, or time.
Meanwhile, 27 percent reported that they had left a vacancy unfilled over the past 12 months because they could not find anyone with the right skills.
Mckinsey surveyed more than 5,000 young people, 2,600 employers, and 700 higher education teachers across eight EU countries…..
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The growing skills gap comes as labour markets move towards high-skilled jobs. A study for the European Commission in 2012 found that by 2025, 44 percent of employed people in the EU will be in a highly-skilled job, while only 11 percent of jobs are expected to be low-skilled ones.
Launching the report in a speech Monday (13 January), EU education commissioner Androulla Vasiliou said that the EU executive was “doing its utmost” to help countries overcome the skills gap.
She added that the commission initiative to establish a “European Area for Skills and Qualifications” would help ensure that qualifications and competences were recognised across the bloc.
EU leaders have also agreed to set up youth guarantee schemes from next year, backed by €8 billion from the EU budget to offer training or a job within four months to people in regions where youth unemployment is above one in four.
Read the Whole story here: http://euobserver.com/news/122712
Source: EUobserver - Benjamin Fox
The list includes Germany and Sweden, which have some of the lowest jobless rates in the EU, as well as crisis countries Greece, Portugal and Spain.