Earlier this year McKinsey, the global consulting firm, produced a hard hitting report on Education to Employment. The report describes a global paradox: crippling levels of youth unemployment around the world – close to 50% in Southern Europe and the Middle East, yet 40% of employers surveyed claiming an equally dangerous shortage of appropriately qualified staff. The report also forecast a global shortage of up to 85 million skilled workers by 2020. To quote from their report:
“Employers, education providers, and youth live in parallel universes. To put it another way, they have fundamentally different understandings of the same situation. Fewer than half of youth and employers, for example, believe that new graduates are adequately prepared for entry-level positions. Education providers, however, are much more optimistic: 72 percent of them believe new graduates are ready to work..
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