Factors of Development of the Region’s Labour Market in the Conditions of the Digital Economy and the Tools of Their Management

Abstract

Purpose: The authors aim is to study the factors of the region’s labour market development in the digital economy (on the example of the regions of the North Caucasus Federal District of the Russian Federation) and to develop tools for their management in order to optimize transformations. Design/Methodology/Approach: The authors use one of the most common methods of econometrics—regression analysis. To test the hypotheses, regression curves are drawn that automatically form paired linear regression models and calculate correlation coefficients. Findings: Three factors have been identified for the development of the region’s labour market in the digital economy: the increase in the level of education in the “knowledge economy”, the growth of innovative activity of entrepreneurship and the computerization of entrepreneurship. It has been revealed that, although structural transformations of the labour market are indeed taking place in the regions of the North Caucasus Federal District of the Russian Federation in 2018, they contradict the existing ideas. Originality/Value: It has been proved that in the digital economy, instead of the expected crisis of the labour market (rising unemployment and social tension), favourable conditions and new opportunities are being created to balance the market and establish social justice in it (preventing discrimination against employees in terms of age and level of education). However, in the case of market self-regulation (deregulation), the natural influence of these factors is weak. Therefore, the state management of the identified factors of the development of the regional labour market in the digital economy should be aimed at strengthening (rather than deterring, as originally assumed) their positive impact on the market—for this purpose, appropriate management tools have been proposed.