Proceedings of the 5th Economic & Finance Conference, Miami

TRENDS IN UNEMPLOYMENT AND EMIGRATION OF LABOR FORCE

SERGEJ VOJTOVIC, MARCEL KORDOS

Abstract:

The situation on the labour market can be influenced by other factors apart from economic development. Equally as important are political decisions, qualification of labor force, its values and attitudes, flexibility of labour jurisdiction and flexible forms of employment, demographic swings in population, employee relations and social aspects within their implementation. The study explores trends in economic development, unemployment and in the migration flow of labor force abroad during the period of economic growth before the onset of global financial crisis. Geographically it covers countries of Central Europe. We look into causal dependence between economic growth, decrease in unemployment rate and migration flows of labor force. Moreover we argue that a significant drop of unemployment rate during the studied period was not predominantly the result of economic growth but it was caused by emigration of labor force.

Keywords: economic growth, investments, employment, unemployment, emigration, labor force.

DOI: 10.20472/EFC.2016.005.028

PDF: Download