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Over the last two decades, economic relations have been marked by fundamental changes. Globalization, the fourth technological revolution, the global economic crisis of 2008 are only part of the challenges facing each national economy. Methods have been used to illustrate the dynamics of the time series by major economic indicators through graphical and tabular visualization tools. Cross-correlation analysis using statistical software is applied to investigate the relationship and the relationship between the indicators used. The survey was conducted in the context of Bulgaria and the EU28 over a ten-year period by economic sectors and demographic groups. In certain sectors, an increase or decrease in the overall trend during the study period is observed. The nature of jobs in terms of sectoral employment is clearly changing from primary and secondary to tertiary. There is a clear significant link between investment in innovation and lifelong learning on economic growth and the dynamics of the labor market. In today's rethinking economic doctrines, the need to redefine economic policies is crucial in order to find the right path to manage the economic system through innovation, to enhance wealth through sustainable economic growth and an efficient labor market.

Globalization and digitalization under the influence of the Fourth Industrial Revolution led to a change in all key sectors. The connection between education and the labour market under the influence of Education 4.0 is especially relevant. Changes in structural employment have brought to the fore the need for new skills. In this regard, the impact of globalization and digitalization on higher education institutions, their transformation under the influence of Education 4.0 and the impact on the labour market are considered. All this leads to the conclusion that the share employment by sectors is changing and education has to adapt to the needs of the labour market.

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The globalization reveals a number of socio-economic perspectives and challenges to the countries. The technological progress and innovation are essential elements of the globalization leaving their indisputable mark on the economic system. Because of this fact, the main objective of this study is to evaluate the effects of the innovation on the economic growth and the labor market (in particular on employment and the dynamics and nature of job positions) and to analyze the social and fiscal state policies. The research methodology includes time series analysis through descriptive, graphical and cross-correlation analyses by major macroeconomic indicators related to the labor market, economic growth and innovation. The results of the study indicate the changes in the nature of the work/ job positions at sectoral level in Bulgaria and the EU. Innovations demonstrate a significant positive link, both with employment and economic growth, and a negative such with unemployment. Specific features and general trends are reflected in changes in employment, innovation and economic growth in Bulgaria and the EU. This requires a reconsidering of the public policies in the social sphere and the tax policy.