Sweden’s shortage of skills

Sweden has a greater imbalance on its labour market than any other country, according to the 2016 Hays Global Skills Index. The USA is in second place.

Sweden’s education system is poorly adapted to companies’ needs, particularly in terms of front-edge competence. There are not enough well educated people for the hi-tech companies to recruit, according to Johan Alsén, MD of Hays’ Swedish arm.

The imbalance has fuelled wage inflation in a number of industries and there are now concerns that many companies are approaching a pain threshold in terms of costs. The consequence of this may well be that highly qualified jobs, in R&D for example, will be transferred to other parts of the world, where it is possible to find the right skills at a lower cost.