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2021•ResearchJet Journal of Analysis and InventionsOpen access

FORMATION OF WAGES IN THE LABOR MARKET

Tairova Ma’suma Muhammedrisaevna, Davlatov Sukhrob Saidovich

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Abstract

In the work, the authors consider the labor market as a certain economic environment, where, in conditions of competition and with the help of supply and demand mechanisms, the employment indicator and the level of wages are formed. The article analyzes the factors affecting supply and demand. The concept of wages in the labor market is revealed. Explains how wages are generated in different markets. The reasons for the differentiation of the rates of wages of workers are revealed. On the basis of the developed regulations, employers will be able to regulate the level of wages, focusing on the labor market, and workers will be able to conclude that their wages depend on qualifications and desire to develop, using a system of advanced training and a training system.

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What this paper is about

In the work, the authors consider the labor market as a certain economic environment, where, in conditions of competition and with the help of supply and demand mechanisms, the employment indicator and the level of wages are formed. The article analyzes the factors affecting supply and demand. The concept of wages in the labor market is revealed. Explains how wages are generated in different markets. The reasons for the differentiation of the rates of wages of workers are revealed. On the basis of the developed regulations, employers will be able to regulate the level of wages, focusing on the labor market, and workers will be able to conclude that their wages depend on qualifications and desire to develop, using a system of advanced training and a training system.

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OpenAlex reports 1 citations for this work. Citation counts describe recorded attention and do not establish research quality.

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Available abstract

In the work, the authors consider the labor market as a certain economic environment, where, in conditions of competition and with the help of supply and demand mechanisms, the employment indicator and the level of wages are formed. The article analyzes the factors affecting supply and demand. The concept of wages in the labor market is revealed. Explains how wages are generated in different markets. The reasons for the differentiation of the rates of wages of workers are revealed. On the basis of the developed regulations, employers will be able to regulate the level of wages, focusing on the labor market, and workers will be able to conclude that their wages depend on qualifications and desire to develop, using a system of advanced training and a training system.

Key concepts: Labour economics, Economics, Real wages, Supply and demand, Efficiency wage, Competition (biology), Labor demand, Split labor market theory

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