Published by PricewaterhouseCoopers, the Young Workers Index assesses how well OECD countries are developing the economic potential of their young people. The index is a weighted average of eight indicators that reflect the labor market activity and educational participation of people aged under 25 in 34 OECD countries. The most significant indicator used by the study is the so called Neet rate, which is the proportion of people between 20 to 24 who are not in education, employment or training.
But what makes Switzerland so competitive when it comes to young workers? Part of the answer lies in the way the country manages the transition between school and employment. Education and training have been core topics on Switzerland’s agenda for a long time and important investments have been made within that area. The country can count with one of the world’s best vocational training systems, for which several governments have shown interest in the past decades. An example would be the declaration of intent around apprenticeships recently signed by the United States and Switzerland. Furthermore, the level of higher education, both public and private, is also excellent and most programs put an emphasis on professional readiness, via internships for instance. Another important factor is Switzerland’s high level of social inclusion which prevents young people from dropping out of school and falling into crime or drug use.
For more information, please refer to our Handbook for Investors (chapter 12: education and research).
