Competitiveness of the Ukrainian labor market in the context of modern global challenges

Abstract

The relevance of the article is due to the need to determine the conceptual directions for strengthening the competitiveness of the national labor market in the context of intensifying international processes in the area of competition for highly qualified workers and investments in the creation of new modern workplaces. The purpose of the article is to develop the theoretical and conceptual foundations of ensuring the competitiveness of the national labor market. This problem is considered from the position of strategic importance for Ukraine, as it reflects the key societal socio-economic processes and forms the prerequisites for achieving the goals of sustainable development. As a result of the analysis of the state policy of Ukraine to overcome the negative consequences of the pandemic for the employment sector and the labor market, its ineffective practices were noted – the coronavirus restrictions were implemented against the background of the complete withdrawal of the state from real financial assistance and effective measures to support the employment sector. The main reasons that hold back the attraction of foreign investments for the creation of new jobs are indicated such as the disproportion of demand and supply; destructiveness of social dialogue processes in the labor market; low quality of labor legislation, low employment rates and a huge volume of the shadow segment. Recommendations have been developed on the use of practical tools for the development of the competitive advantages of Ukraine’s labor market, namely, strengthening the professional and qualification qualities of the workforce, modernizing the state policy of attracting capital investments, overcoming the shadow segment of the labor market, improving the legal and regulatory regulation of remote work, developing digital employment platforms, introducing progressive foreign practices of regulating the labor market in conditions of pandemic restrictions.