The ﬁnancial and economic crisis shattered the EU-Strategy’s attempt to increase the employment rate to 70% among 15-64 year olds by 2010. The new Europe 2020 strategy envisages a 75% adult employment rate by 2020; however, this goal also seems unrealistic in light of the economic crisis which has caused the EU’s employment rate to drop signiﬁcantly below 70%. A crucial question now is whether a skill upgrade of the European labour force would help to increase the employment rate, especially among youth. It is necessary to remember that there is no single European labour market: the skill composition of labour supply and demand as well as their changes are highly differentiated cross-country, leading to all sorts of equilibria.
In summary, it can be said that the educational expansion of the European economically active population will not stop in the next decade; it is still prominent on policy agendas and its beneﬁts outpace its cost, especially if one takes a broadview and considers aspects like the cultural, societal and political beneﬁts of a better educated population. Furthermore theories and forecasts suggest that high proﬁle jobs will continue to be requested by companies. So will elementary occupations that can be neither offshored nor replaced by technology because they require interaction and physical presence.