The dynamics of the labour market and employment in EAEU countries

The labour market is a fundamental element of the economy of any country, and the functioning of the national economy depends on its dynamics and state. In the context of deepening globalization processes in the world economy, which are manifested in the growing interdependence of countries and their regional groupings, national labour markets, like markets for goods, services and capital, are increasingly losing their isolation, which leads to the formation of the so-called common labour market. The common labour market of the Eurasian Economic Union is something qualitatively new. National labour markets are losing their isolation, and an integrated labour market is becoming a national entity. Its formation is based on the mobility of citizens of the states that have joined the Eurasian Economic Union, provided by the instruments of coordinated migration and social policies, the international legal framework for regulating the labour market, which are focused on maintaining a balance of economic and social interests of the countries of the integration union. This work reflects the dynamics of the development of the labour market and employment of the EAEU member states, identifies the problematic links of the new integration space. Key attention is directed to the analysis of the economically active population, as well as a separate analysis of the employed/ unemployed population, the level of wages of each EAEU member state. The authors noticed the main points of the differences in the dynamics of the development of the above indicators.

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