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Hays Report shows chronic global skills shortage despite high unemployment   By PRWEB

(PRWEB UK) 14 November 2012

The world is facing an economic paradox in which many countries are witnessing high and rising unemployment, whilst still suffering from chronic skill shortages in crucial professions as a result of labour market inflexibility, global competition for talent driving up salaries and poor or inadequate education and training.

These are the findings of a major new report published today by Hays plc, the leading global professional recruiting group, produced in collaboration with Oxford Economics. The Hays Global Skills Index 2012 represents a unique and insightful barometer of the market dynamics and availability of professional skills in 27 key economies around the world.

The Hays Global Skills Index creates a score for each country of between 0 and 10 on the constraints and frictions being faced by its market for skilled labour. This is calculated through an analysis of seven components, covering areas such as education levels, labour market flexibility, and high-skill wage pressures.