06 Feb 2024

Development of Labour Market Information System is expected to be completed by September 2024.

Delivering the 2024/2025 budget proposals in Parliament yesterday, Minister of Finance, Ms Peggy Serame, said completion of the system would enable the education sector to produce requisite skills for the economy.

She said the system would play a critical role in ensuring development of effective policies and programmes that addressed unemployment, productivity and skills mismatch.

She further said government would continue to direct resources towards transforming and enhancing delivery of education and training to address the mismatch between available human capital and the requirements of employers as well as the overall economy.

Minister Serame said in line with the Education and Training Sector Strategic Plan, government would implement some of the spill-over projects to enhance the alignment between educational qualifications and the evolving demands of the labour market.

She said government recognised the transformational potential of investing in a knowledge-based economy.  Minister Serame said the creation and application of knowledge had become central to economic growth.

She said it had been proven elsewhere that a skilled and knowledgeable workforce drove innovation, increased productivity and fostered competitiveness in the global market.  She also said it made human capital development an indispensable investment for building a prosperous future and nation.

The minister said the General Education |Curriculum would be reviewed to support outcome based education in line with Education and Training Sector Strategic Plan of 2015-2020.  She said it was crucial that the strategic plan be reviewed as a matter of urgency to be in sync with emerging economic needs. ends