CURRENT STATUS, MAIN TRENDS AND DIRECTIONS OF LABOR MARKET STABILIZATION IN UKRAINE AND CHERKASY REGION

Abstract

The article provides a comprehensive assessment of the state and trends of the labor market in Ukraine and the Cherkasy region. The general situation in the labor market of Ukraine and the Cherkasy region in 2015-2022 has been considered. General and special indicators of population employment, unemployment, demand and supply of labor force have been studied. The analysis has been carried out according to the articles of the section, professional groups and areas of employment. It has been established that forced migration and the need to relocate enterprises due to hostilities have changed the structure of the labor market in Ukraine, the structure of supply and demand for jobs, and the saturation of specialists in the regions. In the regions most affected by the military aggression of the russian federation, the number of jobs and competition has decreased. The imbalance between the demand and supply of labor has become significant. Demand for labor has plummeted due to the inability to work in war zones, declining demand for goods and services and logistical problems and uncertainty about the future. The results of the analysis of the number of unemployed indicate that both in the Cherkasy region and in Ukraine as a whole, the number of people who could not realize their right to work and receive wages (remuneration) as a source of livelihood is growing. In 2019-2021, it was affected by the self-isolation regime, and in 2022 by military operations. It has been determined that the level of registered unemployment in the Cherkasy region in 2015-2021 was always higher than in the whole country. The ratio between the number of registered unemployed, the number of vacancies and the number of applicants for one vacancy, by type of economic activity as of January 1, 2023 in the Cherkasy region has been established. In addition to that the authors have established a change in the approach to hiring employees. More applicants for one vacancy allow employers to increase the requirements for applicants and reduce wages. Accordingly, a certain number of employees are ready to change their profession, find additional work, and accept lower wages. As we can see, there are signs of an employer-dominated labor market. Measures to stabilize the internal labor market at the state and regional levels have been proposed. Further on, the paper identifies trends that Ukrainians should expect on the labor market in the coming years. Finally, the authors specify industries and professions that will be in the list of high demand jobs in future and whose development will help the Ukrainians to adapt to changes and find themselves in a professional realization to restore or the restore the state after the victory.