Home – Home – Jornals – Scientific journal “Vestnik NSUEM” 2024 number 2

The market as such is a social institution that facilitates the exchange of different types of goods and services. In general, the labor market should be considered as an integral part of the market economy, functioning in it along with other markets - resources, goods, securities, etc. It is a system of social relations between employers, employees and the state present on the market, reflecting and achieving a balance of interests between them for a given period, ensuring the reproduction, exchange and use of living labor. It has its own specific internal structure, the main elements of which are: the demand for labor; the supply of labor; the price of power; labor cost; competition. The transition to a market economy has led to the fact that for the bulk of the economically active population, labor has become wage-based, depending on the ratio of supply and demand and economic conditions. This is where the employee sells his workforce to the employer. Today, the labor market is undergoing rapid changes associated with a number of global factors such as a change in technological structure, digitalization of the economy, demographic and age-related changes in the structure of the population. It adapts to external conditions, for example, the consequences and limitations of the coronavirus epidemic, creates new formats of labor relations, in particular, the format of self-employment set by national goals, and forms relevant requests to employers and job seekers, the answer to which is not always obvious. Responding to the creation of high-performance jobs, the labor market increases the proportion of atypical forms of employment, which are becoming more and more in demand as a result of more flexible legal regulation of labor relations. The model of labor market flexibility focuses mainly not on the macro, but on the micro level, not on external, but on internal labor markets, not on quantitative, but on qualitative adaptation of employment. The International Labour Organization links modern transformations in the world of work with such areas of the economy as the informal economy, non-standard forms of work and other new forms of employment. All of them have qualities that destroy standard employment from the inside and expand non-standard employment. The consequence of this is the forced employment of large masses of workers in conditions of partial or complete loss of their labor and social rights provided for in standard employment. The International Labour Organization estimates the negative impact of precarious employment on modern employment to be higher than unemployment.