🛠️ Skills and Workforce Futures #10

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

💼 US Jobless Claims Decline Amid Strong Labor Market Trends. The US labor market remains robust as jobless claims fell unexpectedly to 211,000 for the week ending December 28, below the forecasted 222,000. Economists attribute this resilience to ongoing employment stability, supported by a drop in benefit recipients to 1.844 million. The Federal Reserve adjusted its interest rate forecast, signaling confidence in economic strength. While hiring growth has slowed post-pandemic, the unemployment rate holds steady at 4.2%, reflecting a resilient yet gradually stabilizing labor market.

📈 UK Hiring Slows Amid Concerns Over Tax Increases and Wages. A Recruitment & Employment Confederation (REC) and KPMG survey reveals British businesses cut hiring sharply at year-end 2024, with permanent placements declining at the fastest rate since August 2023. Vacancies also fell at a four-year high rate in December. The downturn is attributed to concerns over impending tax increases and a higher minimum wage from April. This trend, closely monitored by the Bank of England, highlights mounting economic uncertainty for UK firms.

📃 RTO Mandates Hinder Workforce Growth and Retention, Studies Confirm. Research from Revelio Labs reveals that companies enforcing return-to-office (RTO) policies experience slower workforce growth (1% since January 2022) compared to firms allowing hybrid work (1.6%). RTO mandates also correlate with higher turnover, particularly among senior, skilled, and female employees, according to University of Pittsburgh studies. While hybrid models boost satisfaction and hiring success, some executives persist with RTO efforts as labor market dynamics shift, despite risks of brain drain and prolonged vacancy challenges.

🌿 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 

🧑‍🔧 Suzlon and Andhra Pradesh Launch Green Skill Development Initiative. Suzlon Group and Andhra Pradesh State Skill Development Corporation (APSSDC) have partnered to establish India’s largest skill development program. This initiative will train 12,000 individuals, including 3,000 women, in renewable energy skills over four years. Focus areas include wind power manufacturing and operations. The program also introduces a structured curriculum for engineering institutions and global content integration, aiming to bridge the renewable energy skill gap and foster a future-ready workforce.

💡 Argonne Hosts Global Women Energy Leaders Training Program. Argonne National Laboratory, in collaboration with the DOE’s Net Zero World Initiative, hosted the Climate Smart Women Energy Leaders (CSWEL) program, training 12 women leaders from partner countries in sustainable energy. The program featured technical sessions on advanced technologies, leadership workshops, and faculty tours, equipping participants to advance energy solutions tailored to their nations. Emphasizing collaboration and capacity building, CSWEL fosters a global network of women leaders poised to drive sustainable energy innovation and policy implementation worldwide.

⚡ DOE Expands Workforce Development with Spring 2025 Internship Programs. The US Department of Energy (DOE) announced that 164 undergraduate students and six faculty members will engage in workforce development programs at 11 national labs and a fusion facility this spring. Participants will gain hands-on research experience through the SULI, CCI, and VFP initiatives, fostering careers in science and technology. Notably, 29% of students and 50% of faculty represent Minority Serving Institutions.

🚀 Space

✨ The Space Workforce Incubator for Texas (SWIFT) has launched in Austin as a nonprofit dedicated to cultivating a skilled workforce for Texas's growing space economy. Intending to fill 50% of new space industry jobs with Texans, SWIFT aligns with projections from Texas 2036 that the space industry could become a $1T sector within 20 years. Boosted by a $150M grant initiative and the Texas Space Commission, the state aims to solidify its leadership in the national space economy.

📱 Advanced Technology 

💻 Reboot01 partnered with Tamkeen and the Bahrain Economic Developments Board to drive Bahrain’s digital transformation. They plan to equip developers with expertise in AI, cyber security, and FinTech using the global 01Edu platform to align training with industry needs. The two-year program prepares mid-to-senior fill stack developers, with 400 students enrolled, 34% of whom are women.

💾 IIT Delhi launched three-industry-focused certificate programs to address the growing need for specialized finance, supply chain, and semiconductor technology skills. The Chief Financial Officer Programme, Executive Management Programme in Supply Chain and Operations Analytics, and Executive Programme in Semiconductor Manufacturing and Technology aim to bridge critical skill gaps. These initiatives empower professionals to excel in their careers while supporting India’s aspirations for global leadership in high-demand sectors.

👩‍💻 Microsoft offers the TechHer program and free introductory courses for women in both the public and private sectors, covering AI, Azure, Power Platform, and Security. This is to bridge the gap of women who make up 49% of the UK workforce but only 29% hold technology roles. In 2024, nearly 4,000 women in UK government departments completed the five-week "Fundamentals" course. Due to high demand, founder Jane Pitt plans tailored modules for health and social care, government, and retail sectors.

🩺 Health

👩‍⚕️ The Dharavi Social Mission launched its first Resource Centre in India. This initiative is aimed at enhancing community welfare. Offering services in education, health, employment, and skill development, the initiative also seeks to create 3,000 jobs for local residents, providing vital resources and opportunities for economic growth in Dharavi.

📱 ETH Zurich students have launched a specialized healthcare job platform in Switzerland, PraxTor, aimed at addressing the growing talent shortage in the medical sector. The platform, designed with expertise offers a transparent, user-friendly environment for healthcare professionals at all levels. PraxTor aims to simplify and enhance the hiring process for both employers and job seekers in the medical field. Their primary objective is to address the increasing talent shortage in hospitals, clinics, and other healthcare facilities nationwide.

🚑 Manipal Hospitals has launched a "Salute the Real Heroes" initiative to recognize the vital role of ambulance drivers in the healthcare system. The initiative, organized in observance of World Ambulance Day, aims to provide training in critical life-saving techniques like Cardiopulmonary Resuscitation (CPR) and the importance of using essential diagnostic equipment. 

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