The Labor Market: Challenges and Development Trends

Abstract

Background/Objectives: In current context, typical problems for CIS countries are associated with imbalance between supply and demand of national labor markets. Formation, development of forms of employment will reduce unemployment rate. Methods/Statistical Analysis: The article concerns with the theoretic-methodological problems of labor market formation in countries with market economies at different levels of their advancement. The author reveals features, development trends and labor market formation issues in the context of general and regional aspects from the standpoint of system-structural, program-oriented and goal-oriented approach. The article presents also comparative analysis of dynamics of employment and labor market key parameters in the CIS countries. Special attention is paid to the condition of the labor market in Uzbekistan. Findings: It is argued that the labor market both in the country and at the regional level is a complex integrated system with a large number of business entities and intermediaries, the diversity of the occurring socio-economic processes, ambiguity of current tasks, the exceptionally large volume of information, constantly increasing number of links between market participants as well as their probabilistic nature. Solving the problems of imbalances between supply and demand in the labor market is possible through the implementation of the strategic partnership between the state, employers and institutions of professional education system. It is shown that the analysis of employment dynamics and the labor market, as well as their structural characteristics, should be considered in the context of the diversity of forward and backward linkages with the key macroeconomic and demographic processes. The proposed measures will promote further the formation of conditions for sustainable functioning of national labor markets in the CIS countries that in future will contribute to the growth of living standards. Application/Improvements: Results can be used in development of national programs aimed at reduction of unemployment and the labor market development.