Local labor markets in the national economy of Belarus and their institutionalization
Keywords:
local labor market, region, institutionalization, labor market regulation, regional economyAbstract
An important component of the regional economy is the local labor market. Such a market is part of the regional ecosystem, which promotes the renewal and distribution of labor resources. The principles of localization of these labor markets are determined not only by geographical features, but also by the presence of a special infrastructure that ensures the functioning of these markets, taking into account the need for labor resources from internal labor markets formed in organizations and enterprises of the region. In the context of technological and economic transformations, the institutionalization of markets, which is the direction of cost optimization and growth of workers' incomes, is of great importance. In total, the localization of labor markets and their institutionalization will minimize the imbalance between labor resources and the number of jobs, ensure that jobs comply with the latest technologies, which will contribute to the growth of labor productivity. Localization and institutionalization of regional labor markets will improve modern approaches to motivating workers, develop tools for coordinating labor markets and vocational education systems, both in a separate region and on the scale of the national economy. New social and labor institutions in local labor markets will relieve tension in the regional economy, especially where there is no balance between labor supply and demand. In this regard, the article substantiates the main directions for regulating the concentration of labor demand in local labor markets in the national economy of Belarus. Among them, the creation of integrated information databases of vacancies, the active use of antimonopoly instruments in local labor markets with one city–forming enterprise, the development of approaches to regulating local labor markets in single–industry towns.
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