Towards a Global Framework for a Public Good to Reduce Information and Labour Market Gaps

The Fourth Industrial Revolution is forcing countries to face difficult challenges in responding to their workforce’s new skills requirements. Workers, particularly in developing countries, are lagging in terms of technological diffusion and the adoption of new skills. A key obstacle in addressing the skills mismatch is the lack of updated statistics that incorporate the latest changes in the labour market and the new skills demanded. This Brief recommends that the G20 develop a global framework to reduce information and labour market gaps. The proposed global framework would feature a digital platform with up-to-date data and information, which is disaggregated by the demanded skills. Such a platform would better inform workers, students, and companies about educational trends, employment needs, and training strategies. It would provide guidelines for the generation of a sound information system and encourage the production of easily accessible and customised information.