Skills demand shifts in the contemporary labour market: Knowledge economy impacts and coping mechanisms

Abstract

Unemployment is a very important issue facing many economies. The fact that there are more than 200 million unemployed people today is serious. At the same time, the majority of the unemployed are young people, women, minorities and people with disabilities. In this case, these individuals turn to the parallel economy and thus work illegally. Unemployment is a huge cost for both the state and the individual and his family. Therefore, the state must combat it through various measures and policies. The fact is that a large part of unemployed youth do not have the knowledge and skills necessary for modern economic activities in the knowledge economy, which has exacerbated the problem for them.