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LABOR MIGRATION AND ESCO
Abstract
Over the past ten years, immigrants represented 70% of the increase in the workforce in Europe. Highly skilled labor migration is an important part of all migration flows. Skills are a pathway to employability and prosperity. Skills gaps and mismatches are striking. Many people work in jobs that do not match their talents. At the same time, 40% of European employers have difficulty finding people with the skills they need to grow and innovate. Fourth Industrial Revolution is characterized by a fusion of technologies that is blurring the lines between the physical, digital, and biological spheres. The purpose of this research was to examine effects ESCO on the labor migration. The research highlights the benefits of migration of highly skilled workers and the negative impacts that can affect the process. Direct brain drain effect is reduction in economic growth. Induced effect of skilled mobility is stimulus to domestic education. Feedback effects are return, remittances, diaspora and technology transfer. Better sharing the benefits of the international mobility of highly qualified workers enables the principle of efficiency, principle of equality, the principle of sustainability and the ethical principle.
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