Managing people better is probably good for the economy. Better skills only benefit us when there is a requirement for those skills. Consider this report waving.
The UK Commission for Employment and Skills (UKCES) published its Growth Through People report recently. It’s a wide-ranging review of the UK labour market which brings together lot of useful information in one place and highlights the trends we have seen over the past few years.
The report notes that, despite the increasing skill level of the workforce, something I have commented on a few times, (here, here and here) productivity and pay are still in the doldrums.
The UK now has one of the largest graduate workforces in the EU, and one of the largest shares of high-skilled jobs in employment.
But:
We can continue to improve the skills of the UK workforce, but unless we can be sure that workplaces are going to use them, the impact on productivity will be muted.
Where once we feared becoming a low skill, low productivity, low pay economy, instead we have become…
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