The article deals with the theoretical and methodological foundations of the labor market, its social and economic content, in particular, the subjects, the structure of the labor market and features, that distinguish it not only from the markets of goods and services, but also from the markets of other factors of production. An important feature of the labor market is that, like all other types of the market, it directly depends on the market situation, i.e. the ratio of supply and demand, which is formed depending on the state of the economy (rise or fall); branch structure of the economy; level of technical base development; well-being (income level of the population, including per capita income), development of the market for goods and services, housing, securities; state of social infrastructure; the development degree of the multistructure of the economy; measures to develop integration links (sectoral and territorial). In addition, it is influenced by demographic, ethno-social, political, environmental and some other factors. Depending on the relationship between supply and demand, the labor market situation can be of the following types: labor-deficit, when the labor market lacks labor supply; labor surplus, when there is a large number of unemployed in the labor market and, correspondingly, an excess of labor supply; equilibrium, when the demand for labor corresponds to his proposal.
Various theoretical and practical approaches to the definition of the essence of the concept of “labor market” of domestic and foreign researchers are analyzed. The concept of “social and economic content of the labor market” is formulated and the author’s interpretation of the economic category “labor market” as an object of regulation under the conditions of the formation of a socially-oriented economy is scientifically grounded.
Labor Markets
