HUMAN CAPITAL DEVELOPMENT: INTERACTION BETWEEN THE EDUCATION SYSTEM AND THE LABOR MARKET

The link between the education system and the labor market plays an important role in the creation of human capital, which is the basis for economic growth and sustainable social development. The effective interaction of these sectors ensures the training of personnel capable of meeting the needs of the modern market, which increases the competitiveness of the economy and improves the quality of life of people. The example of Germany in the development of dual education is considered, the effectiveness of which is also confirmed by the successful experience of implementing dual system in vocational education in such European countries as Austria, Greece, Italy, Spain, Sweden and Romania. An important condition for the development of a successful university and increasing its competitiveness is to improve the mechanisms of interaction between higher education and business. This includes training students in accordance with the current needs of the labor market, as well as active participation of educational institutions in innovative and successful integration associations. It is important that universities adapt their educational programs to changing conditions and market trends so that graduates have the skills and knowledge needed in today’s environment. In order to strengthen the relationship between business and higher education, close interaction between local authorities, business and educational institutions is necessary. Keywords: higher education, labor market, forms of interaction, employment, dual training, educational programs.