Over the last three decades, significant gains in workforce size and quality helped Asia to sustain rapid progress toward advanced-economy income levels and living standards. But with workers increasingly unable to meet the demands of the labor market, the region's remarkable success could be derailed.
SEOUL – Asia is facing a human-capital challenge. Over the last three decades, significant gains in workforce size and quality helped Asia to become a hub of global supply chains – and thus to sustain rapid progress toward advanced-economy income levels and living standards. But with workers increasingly unable to meet the demands of the labor market, the region’s remarkable development success could be derailed.
SEOUL – Asia is facing a human-capital challenge. Over the last three decades, significant gains in workforce size and quality helped Asia to become a hub of global supply chains – and thus to sustain rapid progress toward advanced-economy income levels and living standards. But with workers increasingly unable to meet the demands of the labor market, the region’s remarkable development success could be derailed.