During the World Economic Forum's panel, Singapore's president, Tharman Shanmugaratnam, warned of an impending global job crisis as 1.2 billion new workers will enter the market in the next decade, with only 400 million new jobs anticipated. He emphasized the urgent need for a comprehensive reform in education and labor training to prepare individuals adequately. Shanmugaratnam noted that the current mismatch between academic education and practical skills required by employers is leading to high unemployment among graduates, suggesting a potential crisis in social cohesion and personal dignity if not addressed.
Tharman Shanmugaratnam highlighted that with 1.2 billion new workers and only 400 million jobs available, a significant employment crisis is imminent.
Shanmugaratnam stressed the importance of reshaping educational and training systems globally to prepare workers for the evolving job market.
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