In line with earlier forecasts, Cedefop’s projections for skill supply and demand in the European Union (EU) foresee a gradual return to job growth and an older, but better qualified workforce.
The latest forecast extends the time horizon from 2020 to 2025 and differs from its predecessors in seeing demand for high-level qualifications speeding up.
The forecasts consider three scenarios – baseline, optimistic and pessimistic – to show how different economic circumstances may influence the labour market from now until 2025. All three point to skill mismatches (skill shortages and overqualification) in the European labour market in the medium term.
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Cedefop