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While Europe’s leaders continue to manage fallout from the financial crisis, there is an economic recovery threat that they must not ignore - a possible crisis in their skills and labor markets.
In a 2012 Accenture survey of 500 leaders in business, the public sector and civil society, many organizations reported that the weak economy forced them to cut or freeze their skills and training expenditures. Millions of Europeans are unemployed. At the same time, there are acute shortages of skills in STEM (science, technology, engineering and mathematics), languages and international business.
Europe’s labor market problems are dangerous for the region’s long-term competitiveness and for its ability to climb out of the current economic slump. Mark Purdy, chief economist at the Accenture Institute for High Performance (AIHP), Matthew Robinson, managing director of policy research at AIHP, and Tim Cooper, senior manager at AIHP, are the authors of this article in which they outline ways for Europe’s leaders to address today’s skills and labor market issues and avert a human capital crisis.
Read the full article, “Situations Vacant: Unlocking Europe’s Human Capital Crisis” on pages 96-97 of The European, October-November 2013 issue.
November 15, 2013
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