Economic analysis of factors associated with education and employment

Abstract

The purpose of the research is to determine and analyze the current situation in the Georgian economy, labor market requirements, existing workforce structure, main challenges and trends. Important studies were conducted, within the framework of which market requirements were analyzed, consultations were held with experts in the field, employers, representatives of the Center for the Development of the Quality of Education; The present situation of supply and demand in the educational market is studied and analyzed. Qualitative and quantitative studies were also conducted, within the framework of which the following were identified: the compatibility of higher education programs with the market requirements, the inclusion of practical components in the educational process, the relationship between higher educational institutions and students, and the processes of interaction between education and the labor market. We think that the promotion of professional education will definitely lead us to the desired results, both from the point of view of the economy of Georgia and the general situation in the country. There is simply a need for more involvement from the state and, accordingly, more properly conducted measures, raising the level of awareness in society and creating all the prerequisites in order to change the attitude towards vocational schools as positively as possible. All this will eventually become a contributing factor for improving the level of education or the economic situation. The study concludes with findings and suggestions, which cover the issues facing the Georgian labor market and the labor force demand vision. The examination of the influence of higher education on employment and income in Georgia demonstrates that the investment in higher education yields a discernible return at this point, but the human capital developed in the higher education system is still not being employed efficiently in the country.