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Formal Employment Is Rising, but It Is Still Less Than Informal Employment and Animal Husbandry Combined

• Formal jobs have generally better working conditions, require fewer hours per week and days per month, and pay more than informal jobs or animal husbandry.

The Productivity of Employment Is the Main Problem of the Mongolian Labor Market

• Unemployment in Mongolia is not high by international standards; however, a large share of employment is in low-productivity sectors and jobs.
• The trends in educational attainment and enrollment in Mongolia are positive, and education pays off strongly. An increasingly large number of young people are seeking four-year degrees, potentially at the expense of attaining technical and vocational skills.

Technical and Vocational Education Training (TVET) Institutions Provide a Special Challenge

• Some people who complete a TVET education earn relatively high salaries, but there is great variability.
• Shortages in occupations that TVET institutions prepare people for suggest they are not meeting demand for skills.
• Mongolia has embarked on major reforms of its TVET institutions, including improving the curriculum, improving equipment, and upgrading the skills of instructors.

Mongolia Has a High Rate of Youth Not in Employment, Education, or Training (NEET)

• Compared with similar economies, Mongolia's NEET rate is high, particularly among males, and particularly in aimag centers and Ulaanbaatar.
• Of particular concern is the category of NEET youth labeled idle. These youth are not contributing to the economy, not building skills, and not helping at home. They represent lost future potential to themselves and the country, and their welfare is especially at risk.