The transformation of the global labor market: globalization discourse

Abstract

The aim of this study is to identify the most recent transformations in the global labor market in the context of the globalization of the labor supply system. Research tasks: – to investigate global labor resource transformations and economic development; – to analyze migration trends in the global labor market system; – to determine the prerequisites for the formation of a global migration policy outline. The influence of globalization on the development of the global labor market is studied. It is established that the dynamics of the international labor market have a complex socio-economic nature and are determined by the state of labor resources, the development of national labor markets, and the nature of the distribution and redistribution of labor in the global economy. A conclusion regarding future labor resource threats in the global labor market system is formed on the basis of the analysis of the global demographic situation. Manifestations of global labor resource crises are identified, determined by: the features of the development of employment in the global economy; the transformation of employment due to the influence of technological change; and the global gap in the level of employment. It is determined that international migration is a key factor in the transformation of the global labor market. At the present stage of economic development, international migration is an objective requirement for the formation of an integrated global economic system. Manifestations of international migration are driven by both the needs of global development in general and factors of the internal economic development of some countries in particular. In modern conditions, migration is not only a factor and component of the globalization process, but also a means of solving economic problems. It is determined that in recent decades, stable trends have emerged in the distribution of migration flows between countries. Economically developed countries dominate among migrant destinations. The labor shortage in these countries is a consequence of the so-called “demographic transition”: it requires significant compensatory immigration to maintain the size of the economically active population. The result is the intensification of international labor migration. As a consequence, the redistribution of labor resources on a global scale is observed. This chapter concludes by suggesting that the primary features of international migration are reflections of socio-economic transformations around the world. The manifestations and dynamic trends of these changes should be taken into account when developing state migration policy in any country.