Experience of Developed Countries on Labor Market Development: Analysis of the Current State and Prospects of Development in Ukraine

Abstract

The article examines the experience of developed countries on the functioning and regulation of the labor market in order to determine the prospects for development in Ukraine. The key indicators of the labor market of Ukraine, USA, EU, China and Canada are analyzed, which include: unemployment rate, unclaimed professions, average salary, employment requirements for foreigners, social package. The reasons for the instability of the labor market in modern conditions are considered, which include: migration, declining birth rates, the effects of the COVID-19 pandemic, which caused a global economic downturn, after which even economically developed countries recover within a year. Another problem of the labor market, which plays a key role in the instability of the labor market of each country – unemployment, which currently has a negative trend due to the pandemic COVID-19. A comparative analysis of the main features of the labor market in developed countries defined priority directions of our country’s development. The identified main driving force in the labor market is labor productivity. The analysis of influence of factors of development of productivity of a labor force of Ukraine is carried out. Taking into consideration the experience of developed countries, priority tasks and directions of regulation of the labor market of our country are defined, which will provide stability of economy, low level of unemployment and competitiveness of the State. Prospects for further research are the deepening of identified issues related to the labor market of our country and further development of this market, as well as the analysis of the impact of the COVID-19 pandemic on the labor market solely on the part of qualification and professional trends.

Keywords

• labor force
• labor market
• employment
• unemployment
• indicators
• developed countries
• labor productivity