The Tracker’s findings justify the importance, timeliness, and urgency of boosting opportunities for people to develop their essential skills.
First, the positives. Essential skills are associated with increased wellbeing and an average wage premium of £3,900-£5,900. Building them means you’re 52% less likely to be out of work or education. The UK public values these skills and wants more opportunities to develop them.
But despite the benefits they bring, the Tracker finds that demand for essential skills development opportunities (83%) far outstrips supply (14%).
In addition, the Tracker exposes critical issues around inequality and social mobility. The distribution of essential skills, and the opportunities to build them, is highly uneven throughout the UK.