THE FUTURE OF EDUCATION AND THE LABOR MARKET IN THE CONTEXT OF INDUSTRY 4.0

Veronica Garbuz () and Yuriy Petrushenko ()
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Veronica Garbuz: Alecu Russo Balti State University, Republic of Moldova
Yuriy Petrushenko: Sumy State University, Sumy, Ukraine

Contemporary Economy Journal, 2021, vol. 6, issue 1, 173-180

Abstract: The article presents an overall picture of the latest technological trends altogether referred to as the Fourth Industrial Revolution (Industry 4.0), their impact on the education and on the changing structure of the labour market, the demand for prospective skills, as well as emerging policy challenges. In order to prepare graduates for the future life and work done by Industry 4.0, where intelligent robots will replace people in certain divisions of activity, education should use relevant information and skills that cannot be replaced with robots. The paper analyzes the main trends in the labor market and formulated conclusions for future systemic approach to education, labor market and major technical and technological changes.

Keywords: Industry 4.0; Education 4.0; Labour market 4.0 (search for similar items in EconPapers)
JEL-codes: J21 J24 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:brc:brccej:v:6:y:2021:i:1:p:173-180

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