2015-05-18

Portugal ranks 38th in human capital management

How is human potential handled in each country? This was the key question behind the World Economic Forum's Human Capital Report. Indicators such as education, skills and employment were looked at in 124 countries. Portugal came out 38th in the ranking, which was topped by Finland.

Using 46 different indicators, the report took into account factors such as the unemployment rate, percentage of active population, employment distribution by economic sector, and the distribution of students throughout the various fields of education, among others.  

Rating them from 0 to 100%, the document's key conclusion is that no country is making full use of it's population's potential at this point. "In many countries, children and young people see their paths limited to the kind of education they can afford, while others have no access at all to literacy and basic education", reads the report's conclusion. Alongside this "many of today's education systems are disconnected from the skills required to function in the contemporary employment market", particularly with regards to economic and technological changes.

Portugal's score was 74,5%. At the top of the scale, Finland obtained 86%, mainly due to it's educated youth, but also because of it's efforts with the continued education of it's older population. Norway, Switzerland, Canada and Japan make up the rest of the top five.

“Talent, not capital, will be the key factor linking innovation, competitiveness and growth in the 21st century,” stated Klaus Schwab, executive chairman of the WEF in a press release.

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