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Interrelation between Supply and Demand Factors in Regional Labor Markets

Author

Listed:
  • Alexander Nikolaevich Tyrsin

    (Ural Federal University
    South Ural State University (National Research University))

  • Elena Vitalyevna Vasilyeva

    (Institute of Economics of the UB RAS)

Abstract

The article presents the author’s approach to the analysis of matching the demand for labor and its supply. The essence of the approach lies in the dynamic assessment the closeness of the relationship between two sets of indicators describing each of the factors. The proposed model for calculating the coefficient characterizing the closeness of the relationship allowed us to consider simultaneously the factors of the formation of demand for labor and its supply, as well as to make quantitative estimates. The approach was tested using the data from the subjects of the Russian Federation situated in the Ural Federal District. The results of the assessment showed that during the period from 2000 to 2019 the closeness of relationship between the indicators of supply and demand factors in the labor market increased. The most significant contribution to the coordination between supply and demand in the regional labor markets is made by the demographic factor, i.e. the share of the population of working age. In addition, in some subjects of the Russian Federation, the functioning of the labor market is quite significantly affected by the retail turnover, the amount of investment in fixed assets and the graduation of specialists. The use of the coefficient of closeness of the relationship allowed us to consider simultaneously all the indicators of the factors of supply and demand in the labor market and make quantitative estimates. Such a unique approach makes it possible to avoid the objectively existing restrictions in the statistical accounting of employment and unemployment

Suggested Citation

  • Alexander Nikolaevich Tyrsin & Elena Vitalyevna Vasilyeva, 2022. "Interrelation between Supply and Demand Factors in Regional Labor Markets," Spatial Economics=Prostranstvennaya Ekonomika, Economic Research Institute, Far Eastern Branch, Russian Academy of Sciences (Khabarovsk, Russia), issue 2, pages 83-100.
    • Handle: RePEc:far:spaeco:y:2022:i:2:p:83-100
    DOI: https://dx.doi.org/10.14530/se.2022.2.083-100
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    References listed on IDEAS

    as
    1. Michael Hopkins, 2002. "Labour Market Planning Revisited," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-4039-2026-3.
    2. Viktor Koksharov & Daniil Sandler & Sergey Kadochnikov & Dmitrii Tolmachev, 2012. "Research and development potential of the Russian higher education institutions," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(3), pages 33-46.
    3. V. Gimpelson, 2004. "Shortage of Skills in the Labor Market: Limited Supply, Lack of Demand, or False Signals from Employers?," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 3.
    4. David Card, 2011. "Origins of the Unemployment Rate: The Lasting Legacy of Measurement without Theory," American Economic Review, American Economic Association, vol. 101(3), pages 552-557, May.
    5. Michael Hopkins, 2002. "The Measurement and Monitoring of Mismatches (Employment and Unemployment);," Palgrave Macmillan Books, in: Labour Market Planning Revisited, chapter 3, pages 56-73, Palgrave Macmillan.
    6. Krugman, Paul R. (Кругман, Пол) & Smith, Vernon L. (Смит, Вернон) & Solow, Robert M. (Солоу, Роберт), 2016. "Economics for the Curious. Inside the Minds of 12 Nobel Laureates [Экономика Для Любознательных. О Чем Размышляют Нобелевские Лауреаты]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 5, pages 162-187, October.
    7. A. A. Shirov, 2020. "Statistics for the Benefit of Economics and Society," Studies on Russian Economic Development, Springer, vol. 31(1), pages 3-6, January.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    labor market; demand; supply; labor force; region;
    All these keywords.

    JEL classification:

    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • N97 - Economic History - - Regional and Urban History - - - Africa; Oceania
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)

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