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The Impact of the COVID-19 Pandemic on the State of the Labor Market in Ukraine
Shavurska O. V.

Shavurska, Olena V. (2022) “The Impact of the COVID-19 Pandemic on the State of the Labor Market in Ukraine.” Business Inform 1:244–251.
https://doi.org/10.32983/2222-4459-2022-1-244-251

Section: Labour economics and social policy

UDC 331.5:311.219.1

Abstract:
The purpose of the article is to examine the peculiarities of establishing equilibrium in the labor market and to outline the prospects of labor market regulation using equilibrium models. The state of the labor market illustrates the level of social development of the State and the current balance of interests between market participants, namely: the State, employers, workers, unions and intermediaries. The situation on the labor market in 2019-2021 was significantly affected by the COVID-19 pandemic, which led to the closure of many businesses and rising unemployment and declining employment in Ukraine. The main provisions of the models of reaching equilibrium in the market are considered and the tools of influencing the equilibrium are singled out. The dynamics of the level of employment and unemployment in Ukraine for 2018–2020 are analyzed and the main factors that led to the imbalance in the labor market are identified. It is established that the labor market in Ukraine is characterized by a lack of balance, caused by exacerbation of socioeconomic problems in the country, lack of stability of economic development, low level of remuneration of labor. To ensure the well-being of the population of Ukraine, it is necessary to ensure balance in the labor market to create productive employment and reduce unemployment. The level of employment reflects the state of the macroeconomic environment in the country, the structure of the national economy, the level of development of market forms of management, institutional support of social and labor relations, the level of entrepreneurial activity of the population. The directions of the State policy for establishment of balance in the labor market are formed.

Keywords: unemployment, employment, balance, COVID-19 pandemic, labor market.

Fig.: 3. Tabl.: 4. Bibl.: 10.

Shavurska Olena V. – Candidate of Sciences (Economics), Lecturer, Cyclic Commission of Economic Disciplines, Zhytomyr College of Trade and Economics of Kyiv National University of Trade and Economics (101 Chudnivska Str., Zhytomyr, 10002, Ukraine)
Email: [email protected]

List of references in article

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Ruzhenskyi, M. M., and Hryshko, O. P. “Asymetriia vitchyznianoho rynku pratsi: analiz stanu informatsiinoho zabezpechennia“ [Asymmetry of the Domestic Labor Market: Analysis of the Condition of Informational Support]. Visnyk DonDUU «Menedzher», no. 3 (2020): 71-88. DOI: https://doi.org/10.35340/2308-104X.2020.88-3-07
“Ukrainskyi rynok pratsi: imperatyvy ta mozhlyvosti zmin“ [Ukrainian Labor Market: Imperatives and Opportunities for Change]. Kyiv, 2018. http://ief.org.ua/docs/mg/306.pdf

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