Spatial Distribution of Human Capital in Serbia: Empirical Analysis with Special Reference to Education

Human capitalHuman capital is one of the most important factors affecting overall social and economic development. Nowadays, there is a growing demand for skilled labor, which usually determines the economic potential of a country. Better-educated workers perform highly positioned and better-paid jobs. The areas with low labor utilization are usually burdened by the outflow of the working-age population, which leads to a decline in labor forceLabor force or a mismatch between the educationEducation system and the needs of the labor market. Accordingly, the issue of labor force education deserves more attention and detailed research. In addition to demographic issues, the situation of the labor force in SerbiaSerbia is unfavorable and pessimistic, as it is constantly shrinking and aging. Therefore, more than 95% of municipalities recorded a significant decrease in the labor force. This research aims to provide a deeper insight into the educational structure of the labor force in Serbia, with a special focus on the young, highly educated population. The skill level of the employed and unemployed part of the labor force will be analyzed to identify the quality and potential in terms of ‘skill stocks’ hidden in the unutilized part of the contingent. This research aims to present the situation in SerbiaSerbia: (i) the current state of labor forceLabor force development; (ii) spatial disparities in human capitalHuman capital; (iii) driving factors of labor force development; (iv) the mismatch between educationEducation and local labor market demand.