Labor Market Development Key for Sustainable Economic and Social Progress.
The labor market is crucial for a country's economic and social development, affecting income distribution and employment regulation. It plays a key role in determining wages and directly impacts organizations and populations. The market's development is influenced by various factors and, in turn, influences others. A well-functioning economy, its dynamics, structure, and efficiency, determine labor demand in terms of volume, structure, and potential wage levels. In a market economy, organizations secure resources, including human resources, through markets and in accordance with existing rules, norms, institutions, and strategies.