Formation of Human Capital and Its Interaction with the Labor Market in the Sughd Region of the Republic of Tajikistan

Abstract

Aim . The presented study aims to theoretically substantiate the peculiarities of human capital formation and its implementation in the labor market as a factor of regional growth. Tasks . The authors consider, systematize, and analyze the problem of human capital formation and regulation in the context of digitalization, its social consequences for the labor market. Methods . The methodological framework of the study includes systematic and graph analytical methods of analysis, which make it possible to take a scientifically grounded approach to the development of recommendations for the efficient implementation of human capital in the regional labor market with the goal of achieving full employment. Results . Trends in the regional labor market and structural changes in the workforce are analyzed, the components of the human development index of the Sughd region are analyzed in detail. This index reflects the ongoing processes, determining their dynamic and structural characteristics. The dynamics of regional budget expenditures on the development of human capital are examined. It is established that an inconsistent economic policy leads to a structural mismatch between supply and demand in the system of training and employment of qualified personnel, which has a negative impact on the outcome indicators of the regional economy. Conclusions . The results of this study can serve as a basis for the development of strategic plans for regional development and state regulation of the country’s labor market.