Current labor market in the EU and Ukraine: trends, problems, forecasting and solutions

Abstract

The labor market is one of the economy changing components, it is quite similar to the market for goods and services, but instead of the demand and supply of goods, there is a demand and supply of labor, knowledge, skills and abilities that are supplied by the employee. The EU, in turn, is known for its openness to immigrants and the employment of third-country nationals. This creates new opportunities and challenges for workers and employers. Labor market research helps to understand the impact of immigration on labor markets. Covid-19 has actually become that springboard on the way to changes in the economies and labor markets of countries around the world. Transformations and changes that were just emerging until 2020 (this may safely include digitalization, automation, the spread of remote employment, etc.) will further intensify under the influence of the Covid-19 pandemic and the Russian-Ukrainian war and lead to a significant redistribution of workers between sectors. In general, labor market research in the EU and Ukraine helps countries to understand and respond to various challenges and opportunities related to employment, labor migration, economic development and social policy. The purpose of our work is to identify trends and problems that exist at the present stage of development of the labor market, as well as to forecast the further development of the labor market at the level of the European Union and Ukraine