The Human Resources Market Impact on Political Stability in the Country

Abstract

Despite the dependence of the human resource market on the market for goods and services, it acts as one of the key segments of the economic system that influences the economic and political decisions of the government. Human capital predetermines the economic development of the country both in the short term and in the long term, creating the prerequisites for effective management of natural resources, self-reproduction and ensuring return on capital. The disequilibrium state of the factor labor market causes a decrease in gross domestic product and changes in other indicators of the system of national accounts. In addition to economic problems, imbalances in the labor market also provoke political instability in the country and increase the level of uncertainty among residents. This situation arose in Great Britain at the beginning of this century, when, after the creation of a single European space for markets for goods and factors of production, uncontrolled migration from Europe became a serious challenge for residents of the country, which caused discontent among the British, the risk of a change of power and, as a result, led to Brexit. The purpose of the study is to identify the interaction between changes in the labor market and political decisions using the example of Great Britain. The objectives of the study are to establish the causes of transformations in the human resources market of the United Kingdom at the turn of the 20th–21st centuries; considering the stages of the creation of the European Union and the country’s break with it; determining the consequences of the UK's exit from the European Union. The methodology of the work includes historical-logical, comparative and systemic approaches. A dynamic study of macroeconomic indicators allows us to draw a conclusion about the direct relationship of the human resource market with the country’s political course.