Imbalance in job market

THE call for private-public partnership to address the issue of unemployment, by narrowing gaps between demand and supply in the job sector, is both timely and logical. Executive director of the Centre for Strategic and Policy Studies (CSPS) Dato Dr Hj Ismail Hj Duraman in a recent interview with The Brunei Times said he believes that the lack of absorptive capacity in job market is one of the key reasons for growing unemployment in the Sultanate.

"We have a very small private sector. They cannot just take anybody they like, because there is a cost involved," he said, adding that efforts are needed on the part of relevant stakeholders and government agencies to expand the private sector in the country. Unemployment has become a cause of concern for the policy-makers. This was evident during a recent job drive by the Public Works Department, which saw over 14,000 citizens and permanent residents filing applications for daily paid jobs. This calls for a multi-pronged strategy. We cannot deny the importance of imparting quality education and training to create competitive and skilled workforce. However, at the same time, we must also have enough job openings for these skilled and educated professionals to check the imbalance between the demand and supply in job market as suggested by CSPS.

On the supply side, we need to develop quality human resources through our schools, colleges and vocational training institutions. In this regard His Majesty's government has done a commendable job by implementing SPN21, which seeks a holistic approach towards education. There is also a need to establish strong links between the educational institutions and the industry to streamline the process of creating skilled manpower.

On the demand side, we need to create more job opportunities in the private sector. This is possible through foreign direct investment (FDI) and diversification of economy. As a strategic "think tank", the CSPS holds great significance for future policy making. Therefore, its recommendations should be taken seriously by the stakeholders.