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National Interests: Priorities and Security
 

On specifics and substance of the governmental regulation of labor markets in developed countries at the current stage

Vol. 12, Iss. 1, JANUARY 2016

PDF  Article PDF Version

Received: 24 September 2015

Received in revised form: 23 October 2015

Accepted: 2 November 2015

Available online: 25 January 2016

Subject Heading: INTERNATIONAL ECONOMIC RELATIONS

JEL Classification: J40, J60, J68

Pages: 131-143

Zolin I.E. Nizhny Novgorod Institute of Management, Russian Presidential Academy of National Economy and Public Administration, Nizhny Novgorod, Russian Federation
Zolin@int.zsno.ru

Importance It becomes even more important to examine international experience in governmental regulation of the labor market as countries more often have to streamline socio-economic development, increase the labor market equilibrium and effectively operate in the global labor market.
Objectives The research examines new approaches to the labor market regulation in advanced counties at the current stage and determines the principal areas for their conceptual transformation.
Methods The methodological underpinning relies upon fundamental provisions of labor economy, and regulatory documents of governmental authorities on the labor market regulation.
Results I analyzed specifics and substance of the governmental regulation of labor markets in developed countries, investigated arising patterns and evaluated their effect on the current labor market.
Conclusions and Relevance Labor market should be regulated in accordance with principles and mechanisms of the global community. When formulating the contemporary concept for labor market regulation, it is reasonable to consider the specifics of the previous development and the current state of the labor market, mentality and behavioral patterns of employees, existing system of the governmental involvement in the labor market processes. The outcome can be used by federal and regional authorities, and for educational purposes.

Keywords: labor market, unemployment, governmental regulation, global experience, population, employment

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