Market driven labor force
A key factor for both labor force participation and labor productivity is the level of skills acquired. It is evident that due to the impact of fast-emerging technologies and changes in the organization of work, jobs that involve routine tasks that are easy to automate are disappearing, while new employment creation involves tasks demanding skills that are non-routine (e.g., coding, creative, analytical, interpersonal, on-demand trades). Our goal is to ensure that each and every citizen of our labor force has the ability to obtain at least one of these skills in demand via schools, universities and on-line/ off-line structured training programs, before entering into the labor market.
Our Job Bank/ Career Centers initiative will help employers to find most suitable candidates and employees to find most desired careers respectively, through our National Skills Development program. This program is designed according to future market inputs and structured at global standards, and most importantly will be reviewed and updated at least every 5 years given skills required in the markets are changing at a rapid pace.