MECHANISMS OF TRANSFORMATION OF LABOR MARKET IN THE CONDITIONS OF STRUCTURAL CHANGES: THE EXPERIENCE OF BELARUS

Abstract

The article analyzes the mechanisms for adjusting the labor market to structural changes in the economy. It was revealed that the mechanisms of quantitative adjustment related to the preservation of excess labor weaken competition for jobs; mechanisms of qualitative adjustment do not ensure the reaction of the market of educational services to structural changes in the economy; wage mechanisms do not sufficiently stimulate the transfer of labor to new spheres of the economy; mechanisms of institutional adjustment do not contribute to the coherence of the operation of these mechanisms. For successful adaptation of the labor market to structural changes in the economy it is necessary: to reduce inefficient workplaces; socially responsible restructuring (including advanced retraining and modern methods of personnel work); the coordination of the market of educational services and the labor market; the implementation of a wage function that stimulates workers to productive and quality work; increasing the institutional flexibility of the labor market.