Technological advancements and automation are changing the landscape of the workforce. Those who fail to update their skills and knowledge may face the risk of unemployment as they are unable to adapt to the requirements of emerging industries and positions.
The skills gap refers to the disparity between demand and supply of skills in the labor market. With industry transformations and rapid technological advancements, many people’s skills have become outdated. Without reskilling, the skills gap will further widen, resulting in more people missing out on employment opportunities.
Reskilling is not only crucial for individual career development but also significant for overall societal progress. If certain groups do not have access to reskilling opportunities, they will be at risk of poverty and social exclusion, further aggravating social inequality issues.
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