The paper analyzes publications related to the development trends of national qualifications systems, which should link the market of educational services to the labor market. Such an analysis suggests that an effective tool for solving this problem is ESCO – the Multilingual Classification of European Skills, Competences, Qualifications and Professionals. ESCO defines and classifies skills (both "soft" and "hard"), competences, qualifications and occupations that are relevant to the European labor market, education and training. ESCO classifier proposes the basis for creating a "passport of acquired competencies". It is used in several European Commission initiatives in the field of skills and qualifications aimed at increasing the transparency of the labor market and educational systems. The development of tools that allow the effective use of ESCO and ensure the transition from a qualification model to full competency models, is seen as an up-to-date and timely scientific task.
Subjects of the labor market can describe their proposals or requirements through non-formalized characteristics that are often non-material (such as team spirit, social skills, leadership skills) and use different terms to describe such characteristics, therefore the problem of comparing the semantics of such descriptions is occursed. Semantic technologies aimed at the information processing at the knowledge level (oriented on formalizing, analyzing and processing the semantics of information resources) can solve such a problem.
In this regard, the publication presents the theoretical substantiation of UkrESCO designed to create a passport of acquired competencies, to search for vacancies and to compare competencies with job requirements based on the ESCO model using Semantic Web technologies and information resources of the Web open information environment.
UkrESCO can be considered as an intelligent superstructure over existing systems that compares and evaluates competencies, matches qualifications with vacancies and form a passport of acquired competencies. Practical implementation of UkrESCO becomes an effective tool for the formation in Ukrainian society of understanding of the value of throughout life education in the personal and professional self-development of person.

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