Correlation between level of education and employment rate

Issue: № 5/3, 2020

Doi: https://doi.org/10.37634/efp.2020.5(3).6

The paper is devoted to research correlation between level of education and employment rate. It is aimed at proving the impact of education on employment. Also in this paper was considered the issue of incompatibility of quality specialists by universities and colleges in market conditions and was displayed the role and place of the level of education in the world. Moreover, many current problems related to the level of education and theirs consequences were described below. In this paper was conducted an analysis of 60 different countries of the world which concluded that the unemployment rate is much lower among people with higher education. Therefore, the influence and correlation of the level of education on the number of employed people is proved. The level of education is one of the main factors of economic development because of reduction of unskilled work leads to the formation of a new quality of the economy. The level of education is the main factor in the employee’s competitiveness in the labor market, which directly affects the efficiency of employment in the country. Nowadays, in the world that is developing too fast, the employer constantly raises the level of requirements for the employee. Consequently, to be in demand as a specialist, you need to improve your competence invariably, attending all possible trainings and master classes and have to be able to properly and in time use the new acquired knowledge and skills. An important feature of the employee is the mobility that is ability to quickly adapt to new working conditions and in general positively and purposefully respond to the modernization of the workflow. The purpose of the paper is to determine the impact of the level of education on employment rate and research their correlation. Number and structure of graduates in Ukraine does not match with the structure of demand for them. Ukraine has one of the highest levels of education in Europe, this was confirmed of our exploration, but in the same time characterized by a reduction in employment due to inability to retrain workers, a large number of migration population and difficult economic situation. The system of training of specialists of Ukraine should be directed at strategic forecasting of the future for the formation of professional development and rational use of labor potential of Ukraine with exactly purposes, tasks and priorities.

Keywords : higher education, employment rate, the quality of education, qualified staff, the level of education, unemployment rate

References:

1. On higher education. Law of Ukraine №1556-VII dated 01.07.2014. Date updated: 18.03.2020. URL: https://zakon.rada.gov.ua/laws/show/1556-18 (in Ukrainian)

2. On employment. Law of Ukraine № 5067-VI dated 05.07.2010. Date updated: 18.04.2020. URL: https://zakon.rada.gov.ua/laws/card/5067-17 (in Ukrainian)

3. Ranking of countries in the world by the index of education. URL: https://gtmarket.ru/ratings/education-index/ education-index-info (reference date 21.05.2020) (in Ukrainian)

4. Ranking of countries by unemployment rate. URL: https://nonews.co/directory/lists/countries/unemployement (in Ukrainian)

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