Sunday, May 26, 2013

Alarm over skills shortage in Europe

European industrialists are sounding the alarm over a growing skills shortage on the continent that threatens their competitiveness and leaves manufacturing companies scrambling to find enough engineers.

Chief executives of some of Europe's biggest manufacturers said that problems around youth unemployment, demographics and the education system all mean that engineers could be increasingly difficult to find in the future. This would force their companies to move more research and development facilities to countries with a greater supply of engineers, such as China or India.

"By 2025, we might need 500,000 engineers," said Olof Persson, chief executive, of Volvo Group, the world's second-biggest truckmaker.