Quantitative Analysis of the Interaction of the Labor Market and the Higher Education Market (on the Example of Kazakhstan)
Quantitative Analysis of the Interaction of the Labor Market and the Higher Education Market (on the Example of Kazakhstan)

Summary/Abstract: The importance of the interaction of the labour market and the higher education market is beyond doubt. The analysis of scientific articles has shown that this type of interaction is considered by scientists depending on the direction of research. Only a few works are devoted to the quantitative analysis of the interaction of these domestic markets. The task is complicated by the fact that today there is no clear methodology for quantitative analysis of the interaction of subjects of different markets. The authors made an attempt to adapt the analysis methodology proposed by Russian scientists. The methodology used is based on an economic and statistical analysis of the interaction of the labour market and the higher education market, with the determination of the type of interaction under the influence of individual factor indicators of these markets and the use of systematic and structural group data. As a result of quantitative analysis, the lack of elasticity between the supply of universities and the needs of the labour market was revealed. The imbalance has led to the fact that in the sectors of the economy of Kazakhstan, there is a shortage in one industry and a surplus of personnel with higher education in another. The results of this study are important for stakeholders, such as politicians, universities, to solve the problems of unemployment among recent graduates.

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