Question : The "skill gap" refers to:
Option 1: The difference in wages between skilled and unskilled workers
Option 2: The disparity in educational attainment across different regions
Option 3: The shortage of workers with specific skills in the labor market
Option 4: The effect of technological advancements on job opportunities
Correct Answer: The shortage of workers with specific skills in the labor market
Solution : The correct answer is (c) - The shortage of workers with specific skills in the labor market
The "skill gap" refers to the mismatch or disparity between the skills demanded by employers in the labor market and the skills possessed by the available workforce. It occurs when there is a shortage of workers with specific skills or qualifications needed to perform certain jobs or meet the requirements of particular industries or sectors.
The skill gap can be observed in various sectors and occupations, such as technology, healthcare, engineering, and skilled trades. It highlights the importance of addressing the disconnect between education and training systems and the evolving needs of the labor market to ensure a well-equipped workforce.