The interaction of the market of educational services and the youth labor market in the context of modern and prospective challenges

Zbrytska Tetyana
PHD in Economy, Аssociate professor of the Department of Personnel Management and Labor Economics, Odesa National University of Economics, Odesa, Ukraine, E-mail:s.t.p._@ukr.net, ORCID ID: https://orcid.org/0000-0002-3558-1795

Cite this article:

Zbrytska T. (2024) The interaction of the market of educational services and the youth labor market in the context of modern and prospective challenges. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Vzaiemodiia rynku osvitnikh posluh ta molodizhnoho rynku pratsi v konteksti suchasnykh i perspektyvnykh vyklykiv; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odesa National Economic University (ISSN 2313-4569), Odesa National Economics University, Odesa, No. 3-4 (316-317), pp. 7-14.

Abstract

The article examines the problems of the interaction of the market of educational services and the youth labor market in a period of uncertainty, which consists in the fact that changes in the economic, social and technological nature make it difficult to attract young people to employment. There is an imbalance between the skills that the learners of educational services acquire during their studies and the needs of the labor market. Insufficient interaction between educational institutions and employers (businesses), lack of effective channels of communication and data exchange between all interested parties. It was determined that business and education cease to be self-sufficient and increasingly depend on each other. A necessary condition for the effective interaction of the labor and education markets, in the context of modern challenges, is the creation of mechanisms and procedures that would allow us to quickly respond to changes in the field of production (business), to adapt the educational system to the needs of the labor market. For this, it is necessary to involve all interested parties in the interactive process: state institutions, employers, trade unions, educational institutions, recipients of educational services and ensure their social dialogue with each other, exchange of information and experience, coordination of actions and interests. It is imperative for policy makers, educators and employers to collaborate and develop strategies to address unique challenges, fostering resilience, creativity and collaboration so that education and youth markets can thrive in a changing environment. An algorithm for the interaction of the market of educational services with the challenges of the youth labor market in times of uncertainty is proposed, recommendations are given for creating a single mechanism for their interaction. It is noted that the effective interaction of these markets is important for creating the socio-economic development of the country and supporting young people in their career growth.

Keywords

market of educational services, youth labor market, algorithm and interaction mechanism, conditions of uncertainty.

JEL classification: I250; J240; DOI: https://doi.org/10.32680/2409-9260-2024-3-4-316-317-7-14

UD classification: 37.014.544+331.5.024.5

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