Investment in education and training for skills development is essential to boost growth and competitiveness: skills determine Europe’s capacity to increase productivity. In the long-term, skills can trigger innovation and growth, move production up the value chain, stimulate the concentration of higher level skills in the EU and shape the future labour market. The massive increase in the global supply of highly skilled people over the last decade puts Europe to the test. The time when competition came mainly from countries that could offer only low-skilled work has come to an end. The quality of education and supply of skills has increased worldwide and Europe must respond.
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