Labor Market Transformations And The Need For Educational Reforms

The study analyses issues related to contemporary transformations of European labour markets. Specifically for Bulgaria, it also identifies educational reforms that could help overcome labour market mismatches. Based on a review of specialised literature, three main channels of labour market transformation are identified: demographic dynamics, changes in the social environment and technological development, including environmental development and the transition to a green economy. These channels have a significant impact on jobs, the demand and supply of specific skills, the emergence of new occupations, etc. The labour market transformations resulting from these influences give rise to the need for educational reforms that lead to the formation of the human capital necessary for long-term economic development.