The Caribbean Development Bank (CDB) is calling on borrowing countries to commit to increasing skills level in the Caribbean and to ensure that these skills are relevant to people’s lives and the demands of the labour market.
This call was made by Portfolio Manager of the Social Sector Division at CDB, Dr Idamay Denny, during her address to those gathered at the launch of the Guyana Skills Development and Employability Project at the Pegasus Hotel on Wednesday.
She noted that “the skills gap and mismatch between what happens in the classroom and the development of the economy are striking” adding that “too many graduates lack marketable skills and upwards of 40% of employers have difficulty finding employees with the right skills to satisfy the needs of the workplace.”
She emphasized that Guyana is by no means exempted from this trend.
There have been complaints over the years of graduates’ inability to find paying jobs after graduating with Masters from the University of Guyana. Additionally, the University continues to see an increasing number of graduates each year with 1,800 expected to graduate on Saturday, November 11, 2017, at its 51st Convocation.
Dr Denny alluded to a recently concluded study done by the CDB about the imperative of youth unemployment for sustainable development in the Caribbean. It found that youth unemployment rates in the Caribbean are among the highest in the world.
She outlined that it was “also shown that technological developments are reshaping the way our people live, work and do business and therefore affecting our skills needs and job profiles as well.”
In this regard, she disclosed that the financial agency will soon be launching its new education and training policy and strategy which will look at strategies for national governments, regional institutions, local authorities, employers and industry, civil society, and ordinary citizens working together.
The study can be found here: http://www.caribank.org/wp-content/uploads/2015/05/Youth-Study-Imperative-of-Employment-CDB-2015.pdf