BAB recently published its latest paper “Tackling the Skills Shortage: Recommendations to help develop the talent our economies need.”
Even as employment rates in the US and UK remain high, many companies are experiencing unfilled vacancies and a shortage of skilled workers. Responding to this challenge, the paper outlines both domestic policy solutions and new bilateral initiatives that can help ease the skills gap in the current labor market.
The paper calls on the US and UK governments to develop and expand education plans and skills training, increase minority and gender representation in training programs and the workforce, introduce economic incentives for skills training, and enhance US-UK bilateral cooperation to develop the skills both economies need.
Commenting on the release of the paper, BAB CEO Duncan Edwards said:
“We’ve heard time and time again from businesses about the need to address the skills and education gap in the US and UK labor markets.
“Many transatlantic businesses are already leading the way by establishing partnerships with educational institutions, investing in digital skills training, or creating apprenticeship or skills training programs.
“The availability of skilled workers is central to many companies’ growth ambitions, and it is crucial that government on both sides of the Atlantic continue to support workforce development initiatives and skills training to encourage economic growth, spur innovation, and develop a globally competitive workforce.”
Download and read the report here.