Different economic environments differ in their characteristics; this prevents the usage of the same bankruptcy prediction models under different conditions. Objectively, the abundance of bankruptcy prediction models gives rise to the idea that these models are not in compliance with the changing business conditions in the market and do not meet the increasing complexity of business tasks. The purpose of this study is to assess the suitability of existing bankruptcy prediction models and the possibilities to increase the effectiveness of their application. In order to analyze theoretical aspects of the application of bankruptcy forecasting models and frame the research methodology, a systemic comparative and logical analysis of the scientific literature and statistical data, graphic data representation, induction, deduction and abstraction are employed. Results of the analysis confirm research hypotheses that bankruptcy prediction models based on macroeconomic variables are effective in identifying the number of corporate bankruptcies in a country and that the application of the model created on the grounds of macroeconomic indicators together with the traditional bankruptcy prediction model can improve the reliability of bankruptcy prediction. However, it was identified that models which are not specially adapted to companies in the construction sector are also suitable for forecasting their bankruptcies.

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This scientific article explores the growing unemployment rate and its regulation through government's subsidies to businesses since it is one of the major economic issues countries currently face. The number of various State-run job creating programs is increasing in Lithuania as in many other countries. This is an important factor to all businesses, since labor costs often comprise a large part of company's expenses. The analysis of the labor costs generally are associated with two aspectstax burden related to wages is important not only to companies, which try to minimize their expenses, maximize profit and achieve operational effectiveness, but also to public sector, which tries to collect more tax revenues to national budget and different funds. Therefore, the authors of this article identify State-run job creating programs and perform their comparative analysis. The results of the performed analysis show, that plethora of job creating programs exist in Lithuania, the implementation and use conditions of which are provided by different public sector institutions. Therefore, with the help of comparative analysis results, authors present specific recommendations to private sector in respect to effectiveness and impact of public sector's support.

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