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FRANCE is just one of more than 100 countries that face a skills crisis, with young people being “poached” abroad by foreign companies because they can’t get the skills to work in their domestic markets.
In a damning verdict, a UN report says that the rise of global trade is further pushing down the wages of the world’s workers and will lead to a weaker world economy by the end of the century.
Wages have declined in most major economies since 2000 and “the wages of workers in developing countries have been pushed down to near-poverty levels, with little prospect of rising again in the future,” it says.
A lack of skills in countries such as China and India is hindering growth, the report from the UN’s International Labour Organisation said, citing low levels of technological change and the fact that only 22 per cent of countries had a tertiary education system on a par with the European average.
“A failure to make full use of available human resources in the private sector and the public sector is preventing developing countries from doing their share in the global drive to raise living standards,” it said.
FRANCE'S youth unemployment rate is the highest in Europe, with about 3.4 million young people out of work.
The issue has become a political focus in France, where there is growing concern that the unemployment crisis is undermining the social contract, which was one of the reasons Emmanuel Macron won the presidency.
Just last week, Mr Macron said he wanted to mobilise the entire nation to make “greater efforts” to create more jobs and tackle youth unemployment. ac619d1d87
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