STATE AND PROSPECTS OF THE LABOR MARKET FOR HIGHER EDUCATION GRADUATES WITH THE SKILLS AND COMPETENCIES OF BACHELORS IN THE EDUCATIONAL PROGRAM "BUSINESS ECONOMICS"

Abstract

The study presents an analytical overview of the current labor market from the standpoint of current and future needs for specialists in business economics and the orientation of economic education towards training specialists at the bachelor's level in economics under the educational-professional program (EPP) "Business Economics". It is emphasized and argued that under the conditions that have developed today in the national economy under the influence of various factors, in particular, such as the full-scale military aggression against Ukraine, which has been going on for three consecutive years, the powerful and rapid progress in the use of information technologies in all spheres of society, intensive globalization and internationalization of the economy and business, changes in the content of the labor process, its organization, employment structure, social and labor relations, the growth of the scale of business, which does not always require a certain infrastructure, the transformation of the traditional economy into a knowledge economy, etc., specialists in economics and in particular in the field of business economics (or paraphrasing – economics of business), who have become particularly in demand by the modern dynamic and globalized labor market, need new skills and competencies that will take into account current trends in the global and domestic economies and the challenges that have already arisen today and are expected to arise before them in the future. It is argued that the demand for business education is becoming extremely relevant today in Ukraine, both from the side of society and from the future employees themselves, concerned about the challenges caused by changes in the needs for labor in the labor market from employers, and the level of their professional compliance with the latest trends and demands in the field of economics and business. It is stated that the results of the admission campaigns to higher education institutions (HEIs) of Ukraine in 2022–2024 confirmed the popularity of educational programs in business economics (or economics of business) among young people. It is analytically proven that the majority of educational programs for the first (bachelor's) level of higher education of Ukrainian HEIs that train specialists in economic specialties today are focused on business economics (or economics of business). It is stated that the modern labor market in the field of economics needs specialists who are competent primarily in matters of the functioning of small and medium-sized businesses, capable of effective utilitarian application of modern information and communication technologies based on artificial intelligence (AI) and socially responsible. The current state is analyzed and both current and future problems of the labor market in Ukraine are identified, both in the national and regional context. It is proven that creating favorable conditions for increasing the employment rate of young people is a priority task for the Lviv University of Trade and Economics (LUTE), which trains bachelor's level specialists in economics under the EPP "Business Economics", who acquire modern and unique knowledge, competencies and skills during their studies that are in demand by employers. It is determined that today the priority requirements of employers for young graduates of economic HEIs, and in particular graduates of bachelor's programs under the EPP "Business Economics" of specialty 051 "Economics", are the requirements for the presence of two subtypes of skills in them: a) among "hard skills": professional-functional (working with documents, sales, foreign language, working with clients), professional-technical (working with technical documentation, drawings, diagrams, working with equipment, tools, materials), digital (computer proficiency, working with CRM, ERP systems, working with databases, web technologies, programming); and b) among "soft skills": communicative (oral/written speech, asking questions, argumentation, non-conflict communication), personal-motivational (focus on results, responsibility, teamwork, time management). It is demonstrated that the EPP "Business Economics" of the Lviv University of Trade and Economics (LUTE) is unique and, therefore, ensures the formation of modern economic thinking among future bachelor's graduates under this EPP, and their acquisition of theoretical knowledge and the above-mentioned critical practical skills in the field of functioning of business systems of various levels with an emphasis on the needs of not only the current but also the future market.