Modern Challenges to Labor Relations: Discussion on the Global Regulation of the Labor Market

Abstract

Introduction: the authors study the possibility of the global regulation of the labor market. To highlight the topic the article presents the opinions of two experts. Methods: comparison, description, classification. The subjects of the study are international treaties ratified within the framework of international organizations and pools, statistical data. Analysis: economic, social, political and other changes constantly occur in the modern world. It influences the emergence of new forms of competitive ability, pursuit to new opportunities of profit, restructuring of industry, production units, mobility of the workforce, migration flows and formation of new communities, social and cultural relations. In such conditions it is important to observe labor and other social rights of employees, guarantees of labor unions activity. The article faces the questions of how and in what ways it is possible to develop uniform norms and concepts capable of promoting more fruitful specific state cooperation in the common interests of managing the labor market. Results: professor M. Ricceri pays attention to the fact that global competition «stresses» the growing importance of institutional factors to regulate the labor market, namely the applicable laws and rules regulating the conduct of more important participants of the development process: government, system of business, employees and labor unions. Their experience shows that improving of economy and social welfare and also promotion of sustainable growth ultimately depends on the capability to adapt institutes, norms and conduct globally. These are the problems which should be solved by integration and management decision. Professor I. V. Shesteryakova points out that nowadays labor legal integration of states is a process of mutual adaptation of labor legislation of the states through rapprochement, harmonization and unification based on international legal rules. Thus it is possible to work out uniform notions and approaches to manage the global labor law in the framework of labor legal geo-integration.