To make informed judgments about where to make investments in their education and training, people need indicators on how the demand for qualifications is likely to develop in the future.
Low education attainment tends to diminish a person’s chances of being in employment.
VET can equip people with labour market relevant skills.
Education attainment, measured by qualifications obtained, is an important factor determining, amongst other things, both the chances of being in employment and wage levels.
By 2020 the share of employed graduates (20 to 34 year-olds) having left education and training no more than three years before the reference year should be at least 82% (OJ C 169, 15.6.2012).
An important EU policy today is bringing about successful transition between school and work for young people.
EU policy considers that after finishing secondary school, young people should either obtain a job or enter further education and training: if not, they should receive appropriate support through active labour market or social measures.
Increasing the share of 30-34 year-olds with tertiary level education attainment is one of the specific objectives of the Europe 2020 strategy.
Reducing the EU average share of early leavers from education and training to below 10% of young people (18-24 year-olds) is one of the specific objectives of the Europe 2020 strategy.
Of central importance to EU policy is to develop and upgrade skills matched to labour demand and anticipate future skill needs.
A key aim of EU policy is for governments, individuals, and employers to invest in skill development to strengthen social inclusion, and improve economic growth and competitiveness.
To consider the benefit of IVET further, the indicator here compares the employment rates of VET graduates (20-34 year-olds with a vocational qualification at ISCED 3-4 as their highest level of education attainment) with the employment rate of those with a lower level of education; that is, those with at most lower secondary qualifications (ISCED 0-2).
To contextualise the labour market outcomes of IVET graduates better, the following indicator compares their employment rate with that for graduates from the general stream.
Positive returns from IVET are of crucial importance.
Education and training is an important policy lever for achieving the Europe 2020 objectives.
A key EU policy aim is to have a highly skilled and qualified population and labour force. Increasing the EU average share of 30-34 year-olds with education attainment at tertiary level is one target of the Europe 2020 strategy.
IVET can support technological innovation by providing relevant skills.
Knowledge of foreign languages enables individuals to move freely and successfully between education programmes in different Member States and also permits individuals to pursue employment in different countries.