THE IMPORTANCE OF EDUCATION IN SUCCEEDING ON THE LABOUR MARKET

The human factor plays a key role in the production process. Utilizing or not utilizing this factor has a significant impact on national economic standards and quality of life of residents. Nowadays in the period of dynamic technological development the need for new information and knowledge has become more urgent. Education and qualifications impose an impact on all aspects of human lives including the situation on labour market. Higher education enables to have new options in finding better jobs and better remuneration. The paper is aimed at education and qualifications, their importance and their impact on the employment and unemployment rate and the level of remuneration. The education level of Slovak citizens has developed in a positive way and results in growth of education level of labour force. The impact of education on the unemployment rate can be proved via the rate of unemployment when the education level increases and unemployment rate decreases. Higher level of education is a prerequisite for better remuneration. Educational potential of population is also an important condition for building knowledge-based economy. Increasing educational level of population in all developed countries is considered to be an important element in sustainable development and growth.