Skills and Workforce Development

Skills and Workforce Development When done right, skills development can reduce un- and underemployment, increase productivity, and improve standards of living. Investing in upskilling or reskilling people for jobs of the future makes economic sense. Skills development is at the center of changes happening in education and labor markets amid the global mega trends, such as automation, action against climate change, the digitalization of products and services, and a shrinking labor force, which are changing the nature of work and skills demands. Consequently, skills and workforce development systems must proactively adapt to fast transformations posed by automation, climate action, digitalization, and the evolving labor markets. https://www.worldbank.org/en/topic/skillsdevelopment