Last month, global consulting firm McKinsey & Co. published a report on unemployment among young people in the European Union. The report’s authors – Mona Mourshed, Jigar Patel, and Katrin Suder – found that, while unemployment among young people remains persistently high, employers in the EU struggle to find workers with the right skills.
In fact, one third of the employers they surveyed said that the lack of skills is causing major problems for them in terms of cost, quality, or time. Twenty seven percent said that they had left a position open in the past year because they couldn’t find an applicant with the right skills. Ironically, the problem was worse in countries with higher unemployment.
The study’s authors make several recommendations on improving the situation. One, in particular, stood out for me: “Innovate with design, course delivery, and financing to make education more affordable and accessible.” These principles have guided Rukuku’s development from the beginning, and it is exciting to see McKinsey highlighting them in this report.
Also, one possible solution recommended in the report involves breaking up degree or vocational programs into smaller modules, giving more flexibility for students to structure their educational tracks around their schedules, budgets, and personal goals. Again, this is a big part of Rukuku’s approach, breaking down our classes into modules to increase flexibility. We hope to help students around the world develop the skills necessary to fill more positions.
To see McKinsey’s executive summary and/or download the full report, click here.