Determinants of labor market resilience

Abstract

It is noted that the resilience of the labor market is an important category of social and economic development in conditions of perma­nent shocks and uncertainty. Global challenges, the unpredictability of cyclical fluctuations of the economy, information asymmetry of the mar­ket, the influence of behavioral factors often determine the dynamics and movement vectors of various types of markets, including the labor market, raising the question of strengthening its fundamental foundations and effective func­tioning despite numerical limitations and risks. Hence the need to study all the multifaceted factors and challenges to the functioning of the labor market and to substantiate on this basis the paradigm of resilience of the labor market in conditions of systemic uncertainty. It is substan­tiated that the determinants of the labor market resilience are cyclical and struc­tural factors that determine the ability of the labor market to avoid, withstand or recover from shock effects. Significant demographic changes in the number, gender-age composition of the population, changes in technological patterns, and introduc­tion of technological innovations, often repeated cyclical economic downturns; military and poli­tical conflicts change the sphere of employment of the population in various countries of the world and demonstrate the general internal sensitivity of the labor market to shock effects. It is emphasized that the task of the state and business is to ensure macroeconomic stability, develop human capital, social protec­tion of the population, increase the level of employment, stable and predictable economic growth, and promote the flexibility of the labor market through the development of various forms of employment, such as remote or part-time. As a result, a favorable market environ­ment will serve as an indicator of the develop­ment of innovations, the successful functioning of small and medium-sized enterprises, which will form innovative workplaces in the future and increase the resilience of the labor market as a whole