Skills gap, labour market top agenda at G20 summit | The Guardian Nigeria News – Nigeria and World News

The Global Skills Gap and Sustainable Development Goals (SDGs)

G20 Labour and Employment Ministers Meeting

The G20 Labour and Employment Ministers’ meeting, hosted by India, focused on addressing the global skills gaps, investing in social protection systems, and embracing sustainable financing mechanisms for employment. The meeting aimed to accelerate progress towards achieving the Sustainable Development Goals (SDGs) and set policy options on employment.

• Specific policy priorities were agreed upon to address the challenges in the labour market.
• The recommendations made at the summit are critical for addressing Nigeria’s challenges, despite not being part of the G20 countries.

Embracing Sustainable Financing Mechanisms for Employment

Gilbert Houngbo, the Director-General of the International Labour Organisation (ILO), emphasized the deepening global decent work divide and the need to close growing fractures in the global labour market. He highlighted the importance of sustainable financing mechanisms for employment and social protection policies to reduce inequalities. To promote social justice, Houngbo called for mobilizing more global resources and proposed initiatives such as the United Nations (UN) Global Accelerator on Jobs and Social Protection for Just Transitions.

• Global resources must be mobilized to tackle the deepening global decent work divide.
• The United Nations Global Accelerator on Jobs and Social Protection for Just Transitions can play a pivotal role in generating necessary support.

Reforming the International Financial Architecture

Houngbo emphasized the need for a broader reform of the international financial architecture to make more resources available for achieving the SDGs. Such reforms should include initiatives that address the Antalya Youth target of reducing the share of young people at risk of being permanently left behind in the labour market. Houngbo informed the ministers that the NEET rate (Not in Employment, Education or Training) for young people aged 15 to 29 was back to or below its pre-pandemic level, with 12 G20 members on track to achieve the target.

• Initiatives should be part of a broader reform of the international financial architecture.
• The Antalya Youth target aims to reduce the share of young people at risk of being permanently left behind in the labour market.

Tackling Gender Inequality and Skills Gaps

Houngbo highlighted the importance of promoting more and better employment for youth, particularly focusing on economic sectors with high youth employment potential. He emphasized the need to invest in Technical and Vocational Education and Training (TVET), quality apprenticeships, and combining active labour market policies with income support to reach the most disadvantaged youth. The ministers discussed ways to address skills gaps, increase productivity and wages, and enhance firms’ capabilities to innovate or deploy new technologies.

• Promoting more and better employment for youth is crucial to tackle gender inequality and skills gaps.
• Investments in TVET, quality apprenticeships, and combining active labour market policies with income support are important.

The Global Jobs Gap and Disparities

The global jobs gap, which includes individuals wanting to work but not necessarily actively looking for work, is projected to be 453 million people in 2023. This includes 191 million unemployed individuals globally and 262 million people who want to work but do not qualify as unemployed. The indicator also reveals a significant disparity between genders, with women experiencing a much higher jobs gap rate than men. Low-income countries have the highest jobs gap rate, while high-income countries have the lowest.

• The global jobs gap is projected to be 453 million people in 2023.
• Women experience a higher jobs gap rate compared to men.
• Low-income countries have the highest jobs gap rate, while high-income countries have the lowest.

Investing in National Social Protection Systems

Houngbo emphasized the importance of investing in national social protection systems based on equitable and sustainable financing through taxes and social contributions. This is imperative to close the growing divides and address the rising jobs gap rate in low-income countries.

• Investing in national social protection systems is crucial to close growing divides.
• Equitable and sustainable financing through taxes and social contributions is necessary.

SDGs, Targets, and Indicators in the Article

1. Which SDGs are addressed or connected to the issues highlighted in the article?

The SDGs addressed or connected to the issues highlighted in the article are SDG 8: Decent Work and Economic Growth, SDG 10: Reduced Inequalities, and SDG 17: Partnerships for the Goals.

2. What specific targets under those SDGs can be identified based on the article’s content?

Based on the article’s content, the specific targets identified are:

– Target 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 percent gross domestic product growth per annum in the least developed countries.

– Target 8.5: By 2030, achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value.

– Target 8.6: By 2020, substantially reduce the proportion of youth not in employment, education or training.

– Target 8.8: Protect labor rights and promote safe and secure working environments for all workers, including migrant workers, in particular women migrants, and those in precarious employment.

– Target 10.4: Adopt policies, especially fiscal, wage and social protection policies, and progressively achieve greater equality.

– Target 17.3: Mobilize additional financial resources for developing countries from multiple sources.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

The article mentions one specific indicator:

– Indicator: Share of young people who are Not in Employment, Education or Training (NEET rate)

This indicator can be used to measure progress towards Target 8.6: By 2020, substantially reduce the proportion of youth not in employment, education or training.

4. SDGs, Targets, and Indicators

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Source: guardian.ng

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