Skills Mismatch Global Statistics
👉 Simply put, skills mismatch is a difference between skills and jobs.
Did you know? According to BCG research, more than 1.3 billion people globally work in jobs for which they are either underqualified or overqualified.
📈 The skills mismatch exacts a heavy toll on the world economy. In 2018, for example, it cost the world economy $8 trillion in unrealized GDP — a 6% productivity loss or tax, and these figures continue to grow. The global economy can ill afford to bear a burden of that magnitude, especially after the havoc that COVID-19 has wrought.
High skill mismatches are likely to affect wage salaries, reduce job satisfaction, and increase the likelihood of frequent changes.
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