🛠️ Skills and Workforce Futures #05

HolonIQ is now tracking reskilling and upskilling initiatives that are critical in bridging workforce gaps. Impact industries are rapidly evolving, fueled by technological advancements, decarbonization, geopolitical dynamics, and socio-economic factors. These sectors require considerable workforce/professional development initiatives to enhance workers' capabilities, boost economic growth, and promote social well-being. Read on for this week’s insights.

🌎 Global Labor Market Trends

🥢 Japan's unemployment rate edged up to 2.5% in October, rising by 0.1 percentage points from the previous month and marking the first increase in three months. The uptick seems linked to more older individuals seeking to remain employed beyond retirement. Despite this, the overall employment landscape has shown positive momentum, with the number of employed individuals increasing by 0.2% to 67.98 million. The number of unemployed people was 1.71 million. 

🇷🇺 Real wages in Russia increased 8.4% year-on-year in September 2024, up from a 7.7% rise in the previous month. Rising wages in Russia are pushing inflation upwards as the ongoing conflict creates labor shortages in the economy and has driven unemployment to record lows. 

🌿 Green Skills Map 

HolonIQ has launched the Green Skills Map, an open-source framework initiated to catalog, evaluate, and context components of the rapidly expanding field of green jobs. This comprehensive taxonomy will serve as a resource for understanding the full spectrum and complexity of green skills required across various sectors, thereby enabling a cohesive approach toward achieving net zero and decarbonizing the global economy. Green Skills Map spans 11 areas, 54 sub-areas, and 243 green skills clusters. A snippet of the map covering four areas has been included above. Explore the full map on greenskills.org.

🌎 Climate 

🗑️ ILO Skills Project Enhances Waste Management and Sustainability for SMEs. A recent ILO initiative in Arba Minch, Ethiopia, focused on training women-led and disability-inclusive small and medium enterprises (SMEs) in environmental sustainability and waste management. The training addressed skills gaps and fostered green business practices, including circular economy and waste-to-value strategies. Participants gained practical knowledge in waste management, sustainability, and entrepreneurship, which they can apply to their businesses, supporting Ethiopia’s green growth and economic inclusion goals. The program highlights the role of SMEs in sustainable development.

👔 Newsom Unveils Jobs Program in Fresno, Reinforces $200M Downtown Promise. California Governor Gavin Newsom introduced a $120M jobs program in Fresno focused on clean energy, carbon capture, and manufacturing, aligning with the California Jobs First Initiative. Highlighting community-driven strategies, Newson emphasized workforce development through local partnerships. The program is aimed at bridging regional economic gaps. Additionally, Newsom reaffirmed his commitment to a $200M downtown revitalization fund, ensuring its inclusion in the upcoming state budget.

🪟 New Training Center Bridges Green Heating Skills Gap in Cumbria, UK. Lakes College in Cumbria has launched a new green energy training center, funded by £200K from the government, to address the skills gap in low-carbon heating. The center will offer courses in air and ground source heat pumps, solar thermal, and electric vehicle charging. As the UK seeks 33,700 heat pump installers, the center aims to provide critical training to meet Net Zero goals, supporting the nation’s green targets.

🚀 Space

🌌 The UK space sector contributes $22.17B annually and employs over 45,000 people. M&A activity has surged, driven by government funding, lower launch costs, and emerging technologies like satellite-based quantum key distribution. UK SMEs lead in niche innovations such as propulsion and data analytics, though they face challenges like high investment needs and acquisition risks. Despite a mixed funding landscape, venture capital and corporate interest are rising, with government support continuing through agencies like Innovate UK and the UK Space Agency.

🛰️ India's Industries Minister inaugurated Raghu Vamsi Aerospace's $35.5M facility at Shamshabad Aerospace Park, expected to create 1,200 jobs in three years. The 2-lakh-square-foot plant will fulfill $236M in existing orders, strengthening Telangana’s aerospace and defense prominence. Raghu Vamsi supplies critical components for aircraft like Airbus A320 and Boeing 737 MAX, collaborating with global leaders such as GE Aerospace, Rolls-Royce, and Honeywell, contributing to aviation advancements with precision-engineered parts.

📱 Advanced Technology 

🖥️ The Skill Hire introduced an AI recruitment platform that combines AI and upskilling to address global talent shortages. Its platform matches employers with skilled candidates and helps professionals adapt to evolving job markets. With over 25,000 placements in the US, Canada, and Bangladesh, and 250 nurses deployed to Europe, it showcases the impact of tech-driven recruitment. Hasan emphasizes blending technology with human-centric solutions to simplify hiring and support mutual success for businesses and professionals.

💻 The Fourth Industrial Revolution (4IR), driven by AI, robotics, big data, and IoT, is transforming global economies and skill demands. Zimbabwe must adapt its education system, particularly high schools, to prepare students for technology-driven careers. Teachers need training in 4IR technologies to integrate digital literacy, critical thinking, problem-solving, creativity, and STEM skills into their teaching. Upskilling educators is essential for equipping students with the competencies required to thrive in evolving industries and a rapidly changing job market.

🧑‍💻 Canon Singapore and Temasek Polytechnic partnered to enhance the professional development of Singapore's security personnel. The MOU, signed at the Security Industry Conference 2024 and witnessed by Minister of State Sun Xueling, will establish a Security Technology Experience Centre (STEC) at Temasek Polytechnic. This collaboration aims to advance security training and innovation, strengthening the sector's capabilities through cutting-edge technology and education.

🩺 Health

🩺 Siemens Healthineers Partners with Ohio State Wexner on a $105M Innovation Initiative. Siemens Healthineers and The Ohio State Wexner Medical Center launched a 10-year, $105 million partnership to advance diagnostic imaging, AI, and clinical care. This collaboration will include a cutting-edge imaging excellence center focusing on translational research and workforce development. By integrating expertise across disciplines, the initiative aims to pioneer medical innovations and improve healthcare workforce standards globally while maintaining a longstanding relationship in advanced imaging technology.

🏥 East Central Indiana Emerges as Healthcare Workforce Training Leader. East Central Indiana is emerging as a hub for training healthcare professionals, leveraging its historic institutions like Ball State University and IU School of Medicine-Muncie. Innovative programs and simulation labs prepare graduates to meet workforce demands, addressing healthcare shortages across Indiana. Partnerships with local hospitals ensure practical training, fostering retention of professionals in the region. Supported by initiatives like READI 2.0, this effort underscores the region’s commitment to strengthening healthcare and economic resilience.

🧑‍⚕️ Weekend Licensed Practical Nurse program boosts rural healthcare workforce training. Maria College, SUNY Cobleskill, and Bassett Healthcare Network have partnered to expand nursing education in rural New York, launching a weekend LPN certificate program in Cobleskill starting January 2025. Graduates will become licensed practical nurses after the NCLEX exam. Plans include offering associate and bachelor's nursing degrees in underserved areas. This initiative addresses severe nursing shortages in rural communities, providing advanced training facilities and career pathways. The collaboration highlights efforts to bolster healthcare services in central New York.

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