Interrelation of labour market and higher education market

The article considers the interrelation of the higher educational services quality and labor market which in its turn has an impact on a stable economic situation of the state. Unfortunately, education market cannot always effectively address the need of labor market and provide fully prepared workforce. In many countries the labor market observes the following issue: on the one hand deficiency of highly skilled personnel, on the other hand – lack of demand on graduates with the high school diploma in labor market. Some reasons for that are: oversaturation of the labor market with the University graduates of certain specialization, deficiency in others and, so-called “deprofessionalization†of graduates. For effective preparation of the workforce which would meet the requirements of labor market, it is necessary to pay attention to the quality of educational programs provided by higher education institutions and to the quality of educational process. Among measures, offered by the authors for effective interaction of labor market and educational services market, are the following: carrying out an assessment of the student’s needs and challenges and providing recommendations in choice of profession; providing variability and flexibility of approaches for applicants to Universities; gathering by higher education institutions from labor market of feedback on the employed graduates; maintaining close relations between higher education institutions and national, as well as international employers.