INSTITUTIONAL REGULATION OF CERTAIN MANAGEMENT ASPECTS OF LABOR MARKET FUNCTIONING IN UKRAINE
Abstract
The article is devoted to identifying problem areas of the labor market of Ukraine and outlining the prior-ities of its institutional regulation. The analysis of macroeconomic indicators allowed a structured study of the five-year dynamics of labor market development indicators by levels of productive, socially useful and full employment, as well as frictional, structural and cyclical unemployment. The number of employed people aged 15-70 in 2019 increased by 217 thousands compared to 2018 and amounted to 16.6 million. Accordingly, the employment rate increased in all age groups. Despite Ukraine's strong position in the field of education and professional orientation, there is a significant gap between the number of specialists and their effective involvement in real sectors of the economy. In 2018-2019, about half of educated young people did not work by profession, and more than 45% of the unemployed have higher education. It was found that in the labor market of Ukraine, despite strong institutional intervention, there are still in-formal labor relations, which include shadowed employment and shadowed wages. The number of people employed in the informal sector of the economy in 2019 decreased by 81 thousand people compared to 2018, but about 3.5 million people (19.4% of the available labor force) did not register the employment relationships. The general analysis of the level of wages in the labor market showed the significance of its low level for employees decision making on labor mi-gration. The number of unemployed in 2019 decreased by 91 thousands people and amounted to about 1.5 million. The unemployment rate decreased from 8.8% to 8.2% in all regions, but exceeds the average indicators in the European Union (6.7%). It is proposed to consider active employment policy as a tool to promote the expanded reproduction of human capital, as its implementation involves the creation of jobs and the organization of retraining systems for the unemployed. In the future, it is advisable to expand the study of the labor market conditions, to systematize the ad-vantages and disadvantages of its institutional regulation and to determine the need and feasibility of government inter-vention in certain aspects of its development.
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