Pros

Basic cognitive and social skills are necessary for productive employment, and often acquired early in life.

Many technical and social skills can be built and developed through experience in the workplace and lead to sizable returns, especially during formative years in the labor market.

Pre-employment and on-the-job training can carry positive returns if they address market failures in the education and training system, are closely combined with work experience, and governed by a flexible and modern institutional structure.

More advanced skills can boost job creation by igniting innovation when countries are caught in traps of low skills and low productivity.