The UK faces significant challenges to achieve sustainable economic growth and development.
A key issue continues to be the weak levels of skills possessed by a large proportion of UK workers when compared with those held by their counterparts in other OECD countries, whilst the skills that do already exist in the labour market are often under utilised.
The UK has the second highest proportion of low-skilled jobs in the OECD (after Spain) and the second highest level of over-qualification (after Japan). Intrinsically linked to the issue of skills are concerns over low productivity in the UK, falling real wages and the high incidence of low pay.
This CIPD paper explores these issues highlights the links between them, and considers how government skills, growth and innovation strategies might address these challenges more effectively.
What challenges do you think the UK faces to achieve economic growth and development? Leave your comments in the section below.
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