Abstract
This article discusses the mechanism of the labor market and theoretical studies of its role in the economy in the field of application: the classical approach, the Marxist view of the labor market and the power of use, the neoclassical approach based on the supply and demand of labor, the theory of J. Keynes on employment and unemployment, as well as the contribution of the monetarists, primarily M. Friedman. The purpose of this study is to summarize the theoretical approaches to accounting and analysis of the functioning of the labor market by the classics of political economy, representatives of Keynesianism, neoclassical scientists, representatives of the scientific school of monetarism. The mechanism of the functioning of the labor market and theoretical approaches to its analysis can be traced by examining various scientific aspects of the labor market.
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