Upskilling – Wide-scale investment in upskilling has the potential to boost GDP by $6.5 trillion by 2030

Upskilling for Shared Prosperity is a call to action. It makes the economic case for providing employees with learning and development opportunities to expand their horizons while minimizing skills gaps. The report highlights certain challenges but also presents upskilling’s advantages.

The report’s key findings include:

1. Wide-scale investment in upskilling has the potential to boost GDP by $6.5 trillion by 2030 (Figure 1).

2. Regions and economies with the biggest gains are those in which the skills gaps are larger and the potential is greatest to improve productivity through skills augmentation aligned with new technology.

3. Progress on reversing polarization and reshaping the workforce is feasible.

4. Upskilling could lead to the net creation of 5.3 million new jobs by 2030.

5. COVID-19 has accelerated the need for action.

A call to action

Chosen excerpts by Job Market Monitor. Read the whole story @ Upskilling for Shared Prosperity | Forum Économique Mondial

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