The current economy requires well trained, adapted workforce. Education, especially but not only formaleducation as the basic ingredient in creating human capital is a precondition for the future economicdevelopment, being but at the same time, the result of the past economic development, since raising the livingEducational attainment of the population by age group, 201024% 17% 23%41%19% 24% 29% 38%55% 69% 66%50%47% 48% 48% 42%33% 21% 13% 11% 8%28% 23% 19%0%20%40%60%80%100%25 - 34 years 35 - 44 years 45 - 54 years 55 -64 years 25 - 34 years 35 - 44 years 45 - 54 years 55 -64 yearsRomania UETertiary education - levels 5-6 (ISCED 1997)Upper secondary and post-secondary non-tertiary education - levels 3-4 (ISCED 1997) Pre-primary, primary and lower secondary education - levels 0-2 (ISCED 1997) Andreea Claudia Serban / Procedia Economics and Finance 1 ( 2012 ) 356 – 364 363standards along with the continuous economic growth and the more complex social and economicenvironment lead to an increase in demand for adequate human capital.The role of education in providing access to employment is reflected in increasing employmentopportunities for the educated people. People with higher levels of education have better job opportunities,reflected in a higher employment rates on labour market: the employment rate for tertiary educated peoplewas 82% in Romania and in European Union, greater than total employment rate both in European Union(64%) and in Romania (59%). Persons with tertiary education are more likely to be in work than nongraduates(Figure 8).
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