Education in 2025 – The Role of Education in the Austrian Economy
The study underlines the importance of education for Austria to maintain its competitiveness. Compared to other EU countries, Austria changed exceptionally towards knowledge-intensive sectors while at the same time sectors requiring medium occupational skills continue to be successful. As a result, demand for higher-level skills grows while the need for workers of medium-level occupational skills continues at the same high level. So far, suppliers of skills have been able to respond to this bipolar development by upskilling: the proportion of individuals with higher skills and medium occupational skills rises while the proportion of low-skilled individuals (not more than compulsory education) declines. However, in order to adequately respond to the ongoing structural change it is necessary for the education system to make greater efforts in order to preserve competitiveness. Special attention should be devoted to the quality of formal primary education, the composition of skills offered and the combination of education and training in a joint harmonised skilling system.