NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

Germany's education advantage over European peers at risk - IW Study

Published 01/21/2023, 03:39 AM
Updated 01/21/2023, 03:40 AM
© Reuters. FILE PHOTO: A engineer works in the water filter company Mitte in Berlin, Germany, January 21, 2020. Picture taken January 21, 2020. REUTERS/Axel Schmidt/File Photo

BERLIN (Reuters) - Germany is well positioned in education levels when compared with its European peers, but a study conducted by the IW economic institute showed that this privileged position could be at risk.

Having a strong education and vocational training system is important to Germany's economy, Europe's largest, which relies on skilled labour to support its high-end products and services.

"Germany has been left behind to a certain extent in the strong expansion of education that has taken place throughout the European Union in recent years," according to the study of the IW, to which Reuters had access on Saturday.

In the European Union, the proportion of workers between the ages of 25 and 64 without a vocational qualification or higher education fell to 20.7% in 2021 from 27% in 2011, thanks to a dynamic expansion of education in southern Europe. However, in Germany, this share of the population rose slightly to 15.2% in 2021 from 13.4% 10 years before, the study showed.

Among young professionals, those aged 25 to 34 years old, the proportion of highly qualified people with tertiary education was significantly lower in Germany at 35.7%, compared to 41.2% on average in the European Union.

"This should be seen against the background of the very special position of vocational education and training in Germany," the IW said. If one looks at the segment of young professionals with tertiary and secondary vocational training together, Germany has a significantly higher share of 77.0% of educated professionals than the 73.4% for the European Union.

© Reuters. FILE PHOTO: A engineer works in the water filter company Mitte in Berlin, Germany, January 21, 2020. Picture taken January 21, 2020. REUTERS/Axel Schmidt/File Photo

"With the changing demands on employees in the context of digitalisation, decarbonisation and de-globalisation, it is becoming increasingly important for Germany and Europe that the working population achieves the highest possible level of qualification," the IW said.

The IW, a private research institute advocating for German employers, said the government should ensure through early and intensive support that all children in the country are able to acquire a vocational qualification.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.