The U.S. economy resembles an hourglass with a pinched middle, writes Marc Tucker. Singapore has a diamond economy, thanks to its educated workforce.
(Singapore) built a very high floor under the entire workforce by providing a world-class academic curriculum to all their students and creating a world-class teaching force to teach that curriculum. They built a system of polytechnics as good as any in the world to provide very highly skilled senior technical workers for a wide range of industries. Perhaps most impressive, they created a set of post-secondary vocational schools for the bottom quarter of their students as fine as any I have seen anywhere in the world, with facilities that rival those of many American universities. They turned vocational education and training from a dumping ground into a sought-after alternative that attracts more and more students every year.
Ninety percent of Singapore’s vocational graduates have job offers in their chosen fields within six months of graduation, Tucker writes. Youth unemployment is very low.