LABOR MARKET IN THE COUNTRIES OF THE EUROPEAN UNION: STATISTICAL ASPECT

Keywords: labor market, EU countries, comparative analysis, multidimensional evaluation, employment, unemployment

Abstract

The article is devoted to statistical research on the labor market development in the EU countries over the past five years. During the study, the method of the labor market development ranking based on the multidimensional evaluation is used. The multidimensional evaluation of the labor market development includes such statistical criteria as population size, employment rate, unemployment rate, and labor productivity. The ranking of the EU countries for 2017-2021 was carried out and the change in the position of the countries in the ranking was analyzed. The analysis showed that in 2021, Germany, the Netherlands and Luxembourg took the first three places in the ranking of EU countries by the labor market development. The last three positions in the ranking with the worst values of indicators of the labor market development were held by Croatia, Spain and Greece. The study identified countries whose government actions contributed to the positive trend of labor market indicators and increased their place in the ranking. According to the study, during the analyzed period (2017-2021), it is determined that such countries as Poland, Slovenia, Portugal and Cyprus improved their positions in the labor market development ranking. However, Estonia, Sweden, Italy, Spain and Latvia are among the EU countries that have significantly worsened their positions in the labor market development ranking over the past five years. For instance, in Spain, despite a reduction in the unemployment rate, labor productivity decreased greatly, which significantly worsened the position in the labor market development ranking, moving the country to the penultimate place. Some EU countries in particular Greece even remained at the lowest position in the labor market development ranking. Undoubtedly, for such countries without government support most problems of the labor market development are difficult to solve. The results from this study proved the need for new approaches for adequate estimation of labor market development and can be used in the implementation of state programs of labor market development in any European country.

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Published
2023-03-02
How to Cite
Mazur, M., & Sirenko, K. (2023). LABOR MARKET IN THE COUNTRIES OF THE EUROPEAN UNION: STATISTICAL ASPECT. Entrepreneurship and Innovation, (26), 80-83. https://doi.org/10.32782/2415-3583/26.12