Around the world, the skill requirements of the job market have been altered by rapid globalization and technological change. These days, skill shortages are becoming a growing problem for employers, though the scale of that problem varies dramatically between countries.
Around 40 percent of employers in Europe have experienced difficulties finding employees with the required skills, especially in the manufacturing sector, according to an OECD report. However, the problem is most pronounced in Asia and in Japan and India in particular. The same report used data from the Manpower Talent Shortage Survey which shows that 81 percent of Japanese firms (with ten or more employees) had a problem finding qualified employees.
Over half of companies with over ten employees in India, Brazil and Turkey also found it difficult to fill their specific job positions. Even though the onset of the financial crisis in 2007 resulted in a fall in skill shortage levels, the problem has returned and intensified since 2008, despite high unemployment levels.