low youth unemployment in all German states, he added.
Entrepreneur-educationist Almas Hyder said college expansion in Pakistan was made in response to the growing need for managers and scientists to fill the bureaucratic posts in education, health and civil services that were created.
However, he added the managerial posts and bureaucratic openings are now far and few while the number of graduates and masters are increasing every year.
Because of the expansion the supply has been flooded with graduates while the demand remains very low.
Now graduates and masters apply for very low grade office jobs, he said, adding that the return of investment in money and time consumed in education is now pathetically low.
He said now persons with primary skills like plumbing and welding with low or no education are earning more than a single college graduate.
“Even those car or motorcycle mechanics that acquired the skills through vocational training or apprenticeship with senior mechanics are better off financially than jobless graduates.”
Though, he indicated that in places where structured apprenticeships still exist, the return of investment is substantial for individuals, employers, and society as a whole. Learning-and-earning approach associated with formal apprenticeship models pays both to the apprentice and higher earnings for the companies, he added.
Entrepreneur Syed Mansoor Abbas said knowledge economy is important but it would be a folly to overlook certain skills that would always be in demand.
For instance, a leaking toilet would always need a plumber as it could not be repaired over internet. “Challenge of the policy makers and educationists is to meaningfully engage employers to ensure that the human resource nurtured, fulfills the demand of the market.”
He said apprenticeship has been in vogue for centuries. It is a means of imparting valuable skills from one generation to the other. The planners should convince the companies to promote apprenticeship through on job training and taking lower skilled workforce to higher level through regular refresher and upgrading processes.
He said some of the fastest growing jobs now do not require a college degree but high quality of apprenticeship. He said countries like Germany and Switzerland that have lower university participation rates but better quality vocational training systems leading to low rate of youth unemployment.