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Education System and Labor Market in the Context of Digital Transformation

In: Digital Transformation and the World Economy

Author

Listed:
  • 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)

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.

Suggested Citation

  • Askar Akaev & Alexander Petryakov & Reiff-Stephan Jorg & Laszlo Ungvari, 2022. "Education System and Labor Market in the Context of Digital Transformation," Studies on Entrepreneurship, Structural Change and Industrial Dynamics, in: Andrei Rudskoi & Askar Akaev & Tessaleno Devezas (ed.), Digital Transformation and the World Economy, pages 125-143, Springer.
    • Handle: RePEc:spr:seschp:978-3-030-89832-8_7
    DOI: 10.1007/978-3-030-89832-8_7
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