Laura Ripani, Fernando Pavón and Raquel Fernández wrote an article published in the IDB’s blog, Factor Trabajo, where they analyse possible solutions to a problem that affects millions of Young Latin Americans: unemployment.

According to the authors, there is a skills’ gap that has two major effects. On the one hand it causes that around 90% of employers in countries such as Chile, Argentina and Brazil face difficulties when trying to find and hire qualified staff. On the other hand, the unemployment rate among young people is three times higher than among adults.

The skills gap is the difference between the skills people learn at school and the skills the labour market demands from them. It has serious consequences not only for people, but also for the competitiveness and productivity of countries in the region.

In order to close that gap, every sector involved must worker together, creating dynamic educational models that adapt and keep constantly updated taking into account the demands of the labour market.

By finding out what the problem is, the authors can start thinking solutions, as the gap can be reduce by adjusting training and education to the market’s needs. Therefore, the IDB has initiated a series of international forums where this problem is analysed, called “TransFormation: skills for work”. The main idea is to learn from other countries’ successful experiences.

To read the full article in Spanish, click here.