In an advanced economy, the organizational structure of the labor market is divided into several elements. These include the training system, the direction of state employment policy, the unemployed unemployment fund, the contract and hiring system. In addition, the structure of the labor market has a system of re-qualification and legal regulation of employment as part of the labor exchange. In this area, as in any transactions related to buying and selling, there are buyers and sellers. The first are entrepreneurs or labor collectives that have the ability and the ability to choose the number of mercenaries they require. Sellers in this situation are employees who offer their ability to work.
The formation of the labor market
The features of the formation of the labor market are based on the action of the law of supply and demand for labor. It has a significant impact on wages and shows a discrepancy in the labor market of incoming mercenaries with the number of vacancies available.
Public production is part of the national labor market. It provides all the existing industries with the requisite mercenaries, which have both the relevant professional and qualifications, and labor and ethical merits. The structure of the labor market can be formed under the influence of deep processes that regularly arise in society. The development of the economy, man and social relations are three evolutionary flows that are interrelated. Due to their presence in society, progress is being made with its main components.
The objective of the labor market
The main objective of the existence of the labor market is to obtain full and continuous employment on favorable terms for both parties, and to achieve a satisfactory standard of living for economically active people to meet professional and vital needs.