Abstract: Forecasts of labor and skill demand are an important tool to guide policy-decisions and efficient investments in education and training, and thus better align labor and skill supply with demand. Broad types of forecasting methodologies include quantitative models, stakeholder surveys, consultative methodologies, and a combined approach in which several of these methodologies are applied in a complementary manner. There is no 'one size fits all' methodology for labor and skill demand forecasting. Regardless of whether forecasts are for an entire economy, for a particular economic sector, or for workers with particular skill sets, there is a range of methodologies available which all have their own merits and challenges. Yet, certain methodologies are more appropriate than others depending on the specific objectives of the forecast and the context within which they are applied.
Publication Year: 2015
Publication Date: 2015-02-02
Language: en
Type: article
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