PNG has a large body of potential workers that are able to join the workforce.
This was highlighted in a report by Deloitte Touche Tohmatsu and the United Nations Development Programme on Papua New Guinea’s labour market.
The report titled “Fulfilling the land of opportunity: How to grow employment in Papua New Guinea” highlights the following key opportunities that can be focused on to achieve this is;
There is a need to focus on immediate skill gaps, such as food trades and construction trades, which presents a vast opportunity to grow employment in PNG
In addition, developing human factors will support firms to hire more staff.
The report also states that with over 80% of the population working in the informal sector (not taxed or monitored by Government), there are approximately 2.5 million people that can benefit from moving into the formal sector.
On main benefit is that there is more job protection and opportunity to grow once in the formal sector.
Meantime, with 40% of the population under the age of 15, there are approximately 3 million people that will join the work force over the next 20 years this in turn will prove to be a tremendous opportunity for economic growth
The report also stated that with less than one third of formal jobs accounted by women, there is an excellent opportunity to engage women in the economy.