MAKING THE TRANSITION INTO A HIGH-INCOME ECONOMY: THE PENANG CASE
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This study reports on the skill situation in the Penang labour market and its businesses regarding high-qualified positions. Through surveys, JobStreet data analysis’s and in-depth interviews it is found that firms active in Penang face a lack of required human capital. Due to labour and skill shortages within the Penang labour market and existing skill gaps within firms it is difficult for companies to carry out all knowledge intensive activities. Over the last decades’ firm activities have evolved into higher-value added activities and new industries settled down. However, the skillsets of employees still need to improve and are not yet sufficient enough to make the transition into a high-income economy. Both the quantity and quality of talents available is lacking. Especially, graduates do not possess the skills required to carry out firms’ activities.