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Ms Munkhchimeg.D, Researcher, EPCRC Mongolias competitiveness: Where are we heading? May 18, 2012
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-Finance skills -Qualified engineers -Competent senior managers -Information technology skills -Skilled labor
SCARCITY OF LABOR
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Why scarcity?
Demand Mining boom: large scale mining projects such as OT, TT Construction boom: large scale infrastructure projects such as The New Development Supply Skilled workers comprise only 20% of Mongolia`s laborers (After the initial transition shock in 1990s the number of students in TVET declined sharply)
Why scarcity?
FDI into the mining sector increased dramatically
High salaries of mining companies have lured away competent staffs from other sectors
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Mongolia 6
Malaysia 11
Kazakhstan 3
Thailand 13
Singapore 1
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Ukraine 15 0.0%
58.0%
37.0%
35.0%
34.0%
21.0%
20.0%
20.0%
18.0% Slovak 13
Bulgaria 8
Qatar 10
Peru 4
Russia 9
Mexico 12
Korea 2
Chile 5
Slovenia 7
18.0%
Graduates have inadequate skills for effective adaptation into the labour market
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80% 70% 60% 50% 40% 30% 20% 10% 0% Qatar 1 74.9% 61.2% 56.4% 54.2% 49.4% 49.1% 48.8% 46.4% 44.2% Singapore 2
Thailand 3 Peru 4
Kazakhstan 5 Russia 6 Korea 7 Slovenia 8 Ukraine 9 Slovak 10 Chile 11 Mexico 12 Bulgaria 13 Malaysia 14
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Employment
42.6%
42.5% 40.7% 40.6% 38.2% Mongolia 15
37.2%
16% 14% 12% 10% 8% 6% 4% 2% 0% Qatar 1 0.3% 1.0% 2.2% 3.4% 3.7% 3.7% 5.4% 5.8% 7.2% 7.5% Russia 10 Chile 11 Ukraine 12 Mongolia 13 Bulgaria 14
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Thailand 2
Singapore 3 Malaysia 4
Peru 5 Korea 6 Mexico 7 Kazakhstan 8 Slovenia 9
Unemployment
10.2%
Slovak 15 14.4%
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Conclusion
The labor market requires more governments attention
Both vocational and higher education system should be based on labor market demand
Due to the economic growth and the start of new development period, more skilled workers needed To revamp higher education curriculum in order to ensure students possess the relevant skills in meeting the demand of employers and align education with international standards
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