The labour market is a key factor in economic development, and its form significantly influences the competitiveness of a country. The aging population and declining birth rates lead to a decrease in the workforce, which presents a major challenge for future growth. In addition to demographic factors, the quality of the workforce plays a crucial role, largely determined by the education system.

Key takeaways:

• Demographic trends lead to a decrease in the workforce, which could weaken economic stability.
• The reduction in working hours and changes in work models could further affect the availability of the workforce.
• The structure of education does not meet the needs of the labour market, especially in the areas of technology and healthcare.
• Reform of higher education and better allocation of human capital are key to future economic growth.

Policy brief –Martin Zeman

The analysis is in PDF under the link below.