Education System and Labor Market in the Context of Digital Transformation

Askar Akaev (), Alexander Petryakov (), Reiff-Stephan Jorg () and Laszlo Ungvari ()
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Askar Akaev: Institute for Mathematical Research of Complex Systems, Lomonosov Moscow State University
Alexander Petryakov: Saint Petersburg State University of Economics
Reiff-Stephan Jorg: Technical University of Applied Sciences Wildau
Laszlo Ungvari: Development in Relations of Industrial and Education Management GmbH

A chapter in Digital Transformation and the World Economy, 2022, pp 125-143 from Springer

Abstract: Abstract Modern economic systems are characterized by great flexibility and ever-changing demands in relation to labor skill level. The need for constant knowledge renewal and continuity of the education process are becoming key factors in ensuring sustainability in the labor market. The chapter analyzes current trends in professional training found in different OECD countries and Russia and evaluates the adjustment level of higher education systems to new technological challenges. It is shown that despite dynamic changes in the education sector, it remains largely geared toward training professionals to staff the “Third Industrial Revolution.” A structural shift from training medium-skilled professionals to training high-skilled professionals, including those in STEM (Science, Technologies, Engineering, and Mathematics) fields, will become a pivotal moment in education development. The countries that will succeed in coping with this structural challenge within a short period of time will gain considerable competitive advantages in international markets for high-tech goods and services.

Keywords: Education system; Labor market; Labor skill level (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/978-3-030-89832-8_7

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