Of course, everyone knows being skilled is an advantage: Skilled workers are more productive and therefore tend to earn more and have better employment prospects. Greater productivity, in turn, is the foundation for growth. Failure to ensure a good skills match has both short- term consequences (you see skills shortages) and becomes a longer-term drag on growth and equality of opportunities.
The trouble is that there is no automaticity in these relationships: skills do not automatically translate into higher incomes and higher productivity. Success with converting skills into jobs and growth depends on:
whether we have a good understanding of what those skills are that drive strong, sustainable and balanced economic outcomes;
whether the right mix of skills is being taught and learned in effective, equitable and efficient ways;
whether economies fully utilize their skill potential;
and whether governments can build strong coalitions with social partners to find sustainable approaches to who should pay for what, when and how.
find sustainable approaches to who should pay for what, when and where