SOCIAL CAPITAL IN THE LABOR MARKET

Abstract

Today, the main goal for any country is to ensure economic growth (quantitative changes) and economic development (qualitative changes). Based on the main macroeconomic identity, one of the most important factors of economic growth, GDP growth, is the size of consumption (C, consumption). Consumption directly depends on the amount of income, first of all, labor income, which is formed in the labor market. In turn, the amount of labor income is determined by the impact of a number of factors that affect the income of employees at the macro and micro levels. On the one hand, the size of a country's GDP is calculated as the sum of income from the use of various factors of production. But, on the other hand, the general state of the national economy is a significant factor in the amount of individual income. At the micro level of the economy, the individual income of employees highly depends on the significance of the profession and industry for the country's economy, the level of qualification of the employee, the experience and length of service in this profession, the position held, etc. A very important factor in an employee's career success and income is social capital accumulated by him or her. Let's look at how social capital "works" in the labor market: 1) What is social capital at the micro level? 2) How are social and human capitals linked? 3) How are social capital and information about the labor market situation related? 4) What are the most general trends in the development of the labor market and what is the role of social capital in the new conditions?