The Human Capital and Labor Market in Digital Conditions: Peculiarities of Interaction and Possibilities of Its State Regulation

Abstract

The article describes the features of human capital formation and its interaction with the labor market in the conditions of digitalization on the example of Sughd Region of the Republic of Tajikistan. The purpose of the article is theoretical grounding of peculiarities of human capital formation and its realization on the labor market as a factor of region growth. The methodological base of the research includes system and graphical-analytic methods of analysis, the use of which will allow to approach scientifically grounded development of recommendations on effective realization of human capital potential on the labor market of the region with the purpose of ensuring full employment. Trends in the development of the regional labor market and structural changes in the composition of the labor force are analyzed, and a detailed analysis of the components of the human development index in Sughd is made, which reflects the processes taking place and determines their dynamic and structural characteristics. The dynamics of expenditures of the region’s budget on human capital development is studied. It has been proved that the misalignment in economic policy leads to a structural mismatch between demand and supply in the system of training and employment of qualified personnel, which has a negative impact on the final indicators of the regional economy. The results of the research can serve as a basis for developing strategic plans for regional development and state regulation of the country’s labor market.