Vocational and Education Training (VET)

Paper Summary:

This paper contends that the shortages of skilled workers is linked to the failure of government to support vocation and education training programs. The author points out that, for some time, it has been recognized that investment by governments in human capital by means of education and training is a good and useful. The paper stresses that it is increasingly recognized that Vocational and Education Training (VET), training that is specifically intended to provide the skills and knowledge required for work, is useful for enhancing people's employability by ensuring that they are equipped with specific skills required by employers.

From the Paper:

"It has for some time been recognized that investment in human capital by means of education and training is a good and useful thing to governments to spend funds on. In particular, it is increasingly recognized that Vocational and Education Training (VET), i.e. training that is specifically intended to provide the skills and knowledge required for work, is useful for enhancing people's employability by ensuring that they are equipped with specific skills required by employers."

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