Skilled Labor Force
For a small country, of only 620 000 inhabitants, Montenegro offers a highly skilled work-force at competitive costs. Every year, approximately 1300 students graduate from universities and colleges in Montenegro, with approximately one-third of these students graduating from technical universities.
Since introducing the Bologna Declaration in 2004, Montenegro has increased standards by putting 25% of public expenditure towards educational reform. Not only does Montenegro boasts highly skilled and productive workforce, it also provides a window into such specialized areas such as maritime industry. Foreign languages are widely spoken due to a highly developed tourism industry and dual competences (technical/business – linguistic skills) are not uncommon.
Some of the basic data, considering Montenegro's labour market are considered below (based on MONSTAT 2016 data):
Total number of employed – 221.7 thousand;
Total number of unemployed – 47.25 thousand;
Inactive population– 231.6 thousand;
Low activity rate – 53.7 per cent;
Low employment rate – 44.3 per cent;
High unemployment rate – 17.6 per cent;
High long term unemployment rate – 57 per cent of unemployed have been seeking the job over one year;
High youth unemployment rate (aged 15-24) – 37.6 per cent;
Regional unemployment disparities – with unemployment rates in coastal, central and northern region of Montenegro being 7.8, 12.4 (11.4 per cent in Podgorica) and 37.3 per cent, respectively.
A way too intensive employment of foreign workers – 23 255 employed in 2015 (EAM, 2015, p. 15).
Education system (the analysis of situation)
In the process of transition, Montenegrin education system underwent numerous reforms in all segments. Today, there are 424 elementary schools, 50 higher education schools (12 of which are grammar schools-general secondary education schools) while at the level of higher education there are state University of Montenegro, two private universities (University Mediterranean and University Donja Gorica ) and seven higher education institutions.