South Asia is at a critical juncture right now. Every day, a sports stadium worth of youngsters join the workforce, but half of them don’t have the skills to handle 21st-century jobs. A recent press release by the Unicef lists the population percentage in each South Asian country who are on track to complete secondary education and also reach their learning benchmarks by 2030. Sadly, only 47% of the young students in India will get the right skills at the right time.
As per data produced by the Global Business Coalition for Education (GBC-Education), the Education Commission, and UNICEF, India loses out to only Maldives (46%), Nepal (46%) and Pakistan (40%) who are projected to see even fewer young students reach the right level of learning and skills to tackle the jobs of 2030.
With the best projection among South Asian countries, Bhutan is set to see 81% of its students reach the learning outcomes by 2030.
South Asia to have largest workforce in the world till 2040
South Asia will have the largest youth labour force in the world until 2040 with almost half of its population of 1.8 billion below the age of 24, led by India, Pakistan and Bangladesh.
We will soon have the youngest and largest workforce, but if students do not have the right skills, this demographic dividend cannot be utilized. And without that, there cannot be economic growth.
South Asian youngsters not happy with education systems
A recent UNICEF ‘Voices of Youth’ survey conducted among 32,000 young people in South Asia revealed that these under-24-year-olds are quite concerned about how they are being prepared for the modern economy.
According to the poll, many young people in South Asia feel their education systems are outdated and do not prepare them for employment.
They cite lack of work experience (26%), inadequate support services to improve employability (23%) received no support and most received limited and not comprehensive support), and bribery demands/discriminatory and unfair hiring practices (44%) as key barriers to finding employment even after they have graduated.
What is causing a skill gap in South Asian countries?
A separate new report commissioned by UNICEF identified major obstacles to addressing the youth skills gap in the South Asia region.
These include the low quality of education and suboptimal vocational training which do not give students the desired skill levels the labour market demands, among others.
Compiled by Ernst & Young India, the report identifies a total of 30 already-in-operation solutions to the youth skills crisis.
Skill gap and unemployment in India
It is no secret that India is facing a massive unemployment issue. As per the Centre for Monitoring Indian Economy (CMIE), India’s unemployment rate stood at 8.45%.
And it’s showing no signs of going down with major tech companies like Infosys and Cognizant slashing thousands of jobs. Telecom and auto industries are also taking a big hit.
Skill development is now required not just after passing class 12 but as a part of school education itself.
‘Get it right, and millions could be lifted out of poverty’: Unicef Director
This report puts South Asian countries way behind the global average — an estimated 54% of South Asian youth will leave school without the necessary skills to get a decent job in the next decade.
“Every day, nearly 100,000 young South Asians – a large sports stadium of young people – enter the labour market, almost half of them not on track to find 21st century jobs,” said Henrietta Fore, UNICEF Executive Director.
“South Asia is at a critical juncture, with a limited window during which it can reap significant demographic dividends from its talented and capable youth,” she said.
“The world of work is changing fast. If governments invest in better and modern education, and businesses create better opportunities for young people to enter the job market, South Asia can set an example for the world. But this can only be done if we act smart, and act together,” said the Unicef director.