Europe dominates the global league table for skilled workers with 14 of the top 25 countries, four from Asia two from the Middle East but none from North and South America, according to the World Economic Forum’s 2018 global competitiveness report.
Topping the list is Finland with a score of 87.3 followed closely by Switzerland with a score of 87.3 and the United States with 86.3.
The Philippines lags behind its peers in Asia and ranked 56th with a score of 62.1. Hong Kong, Singapore and Taiwan 19th, 20th and 21st respectively after Estonia, lead the Asian region.
The World Economic Forum’s 2018 global competitiveness report ranks the labor forces of different countries based on skills.
According to the World Economic Forum’s report, education is a key part of producing and maintaining a highly skilled workforce.
The WEF publishes the rankings every year based on several indicators, including institutions, infrastructure, higher education and training, and labor market efficiency.
An official from the Department of Labor and Employment, who asked anonymity for he is not authorized to speak, said the DOLE has acknowledged the WEF ranking and the government is taking steps to address the “vital” issues being faced by the country, particularly education.
The DOLE official declined to elaborate more on the issue.
The WEF report said Finland comes top of the global league table on the back of high rankings for almost all measures of education, skills and training and for all age groups.
The country is best in the world for the quality of primary schools, youth literacy rates, and the ease with which businesses can find skilled workers.
In Asia, Japan has both the world’s highest education and skills. It also has the world’s highest rate for tertiary education of its working age population, according to WEF report.