EXCELLENT UNIVERSITY EDUCATION AS A BASIS FOR SAXONY’S SUCCESS STORIES
The business model Germany is based on high tech branches with strong export activities. That’s why it is so important to train and educate a sufficient number of MINT specialists. Towards this end, Saxony is Germany’s incubator for engineers. This is due to the high proportion of graduates in engineering sciences among all graduates. With 28.8 percent (Germany’s national average: 19 percent), Saxony achieves the absolute top value here in a comparison of all federal states. The replacement rate for engineers is also high, around 8.7 out of 100 employed engineers who were subject to mandatory social insurance contributions in Saxony were new engineering graduates. The German national average has only a replacement rate amounting to 6.3 percent.
Source: Education Monitor 2020, Cologne Institute for Economic Research (IW) on behalf of the Initiative for a New Social Market Economy (INSM)
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