International labor market in the conditions globalization and digitalization: trends and perspectives

Abstract

The article examines the essence of the international labor market and emphasizes that the international labor market in the context of the development of the modern information and communication paradigm is at the stage of changing the structure, demand and supply of human capital. It is noted that the development and deepening of the international division of labor, the strengthening of the innovative component of modern international business directly affect the functioning of the international labor market. The movement of goods, services, capital, and information flows leads to the movement of human capital, as well as to the growth of labor migration. World economic theories regarding the functioning of the international labor market are considered. At the same time, it is noted that there is no unified view on the definition of the international labor market and measures to improve it. It was concluded that when interpreting the definition of «international labor market», it is necessary to take into account the peculiarities and specifics of human resources, as well as the emergence of new forms and types of employment in the conditions of globalization and digitalization of the world economic space. An analysis of economic concepts and theories regarding the need for state intervention in employment and migration processes has been carried out. The key factors influencing the functioning and development of the international labor market are analyzed. It was noted that the development of information and communication technologies caused the creation of new forms and types of employment, increased flexibility and mobility of labor resources. The processes of globalization and digitalization contribute to the strengthening of the openness of national labor markets and the creation of barrier-free movement of labor resources. The impact of digitization of all spheres of economic life on the growth of leading international companies' demand for intelligent and qualified personnel, who are ready to experiment, make creative, innovative decisions and learn throughout their lives, was also investigated. Acute issues related to the departure of highly qualified personnel from countries with a low level of economic development to countries with a high level of economic development are analyzed. It is noted that this situation leads to the washing away of labor potential in human capital exporting countries, a decrease in economic and social labor standards, as well as a decrease in financial reserves for the formation of the budget of the labor donor country. The influence of the demographic factor on the development of the international labor market is considered. It was concluded that the structure and number of labor resources by region of the world is quite varied. It was determined that in countries with a high level of economic development, there are trends to a decrease in the birth rate, as well as to an increase in indicators: life expectancy, quality of life, the share of labor migrants in the total number of working population. It is noted that in the conditions of socio-economic transformations associated with digitalization, structural and sectoral changes are taking place in the world economy, and in particular, in the international labor market.