Importance of Skills in Global Economy. Arguably globalisataion and economic development have changed the nature of the economy. There is now less demand for unskilled manual labour. This is because there has been a shift in manufacturing to the east. Therefore, workers with low skills and qualifications have found it harder to get well paid work. However, those with good qualifications and education have seen significant rises in real pay. There has been a rise in bonuses for top executives.