THE first-ever local continuous quarterly Labour Force Survey (LFS) has found that less than 10 per cent of the working population have post-secondary degrees.
According to the report that was done by the Guyana Bureau of Statistics in conjunction with the Inter-American Development Bank (IDB), the educational achievement in Guyana has a pyramidal structure which shows that 5.6 per cent of the working-class have post-secondary certifications and qualifications.
The study, which was done in the third quarter of 2017, has revealed that only 2.3 per cent of the population have a Bachelor’s Degree or equivalent, 0.3 per cent have a Masters, and 0.2 per cent have Doctorates or the equivalent.
Statistics have also shown that 9.9 per cent of the working population received no schooling, while the majority of the working class have primary education, which was recorded at 48.3 per cent, and upper secondary education at 24.3 per cent.
In the third quarter of 2017, the total population aged 15 and above residing in Guyana was 550,831 persons, with the majority, some 72.3 per cent, being based in urban areas.
The labour force participation rate for all persons aged 15 and above was 56 per cent, roughly equal to the corresponding 2012 value of 55.7 per cent.
“The finding has two implications: on the one hand it entails a shortage of highly qualified human resources in the labour market and on the other, it indirectly confirms the seriousness of the issue of outward migration of tertiary-educated people, which may explain the relatively low educational profile and skills portfolio of the economically active population,” the report indicated.
At the launch of the report last month, IDB Representative to Guyana, Sophie Makonnen, explained that the LFS is important to productivity, and preventing Guyana from falling into a skills gap.
“In other words, such an assessment should indicate where Guyana’s workforce stands, and enable policymakers to plan accordingly,” said Makonnen.
Finance Secretary of the Ministry of Finance, Dr. Hector Butts, had also said the LFS bulletin is critical and will aid in the objective of decision-making.
