REGIONAL LABOR MARKET FORMATION AND DEVELOPMENT PROBLEMS

Abstract

The research of how unemployment has changed at the regional level demonstrates the significance of the regional dimension in the fight against unemployment. It is obvious that more thorough analyses are required, taking into account regional growth and employment dynamics as well as interregional (rural-to-urban) migration dynamics.The article highlights the key issues with how regional labor markets are changing as a result of the globalization of socioeconomic processes. The study provides theoretical understanding of the regional labor market's sustainability issues as a socioeconomic system. The factors ensuring the regional labor market's stability, the findings of the analysis of the institutional and legal framework reform processes, as well as the traits of the labor potential as a strategic resource for the development of an innovative economy in the area of labor relations at the regional level are supported.In addition to presenting the findings of the regional policy evaluation in the area of employment in Azerbaijan, the essence of creative labor potential is highlighted.The article provides a thorough study of the regional labor market's current situation and provides projections for its future evolution in light of the steps made to enhance governmental employment policy. Several policy ideas to be implemented at the regional level in the battle against unemployment are presented in this context based on the study's findings.