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Business & Economics

Research Study of Labour Force Supply and Labour Market Demand of National Economy in Latvia
Elena Dubra, Edgars Kasalis, Karlis Purmalis

ABSTRACT. The objective of “The Research Study of the Labour Force Supply and the Labour Market Demand of National Economy of Latvia” is to identify and forecast the labour market demand, the supply of labour force in the separate sectors of national economy. The novelty of the undertaken research study lies in the complex approach to the labour market demand and supply analysis and to the forecast for the national economy in general and for its separate sectors, focusing attention to the identified 120 professions and 37 aggregated groups of professions in the short, medium and long term period. The labour force demand and supply forecasts in the above mentioned time periods have been acquired as well as the possible disproportion in the labour force demand and supply within professions and groups of professions have been established allowing to draw conclusions about the Latvian labour market situation and further development possibilities. The recommendation is to conduct labour market research studies on systematic basis and improving data acquisition.

KEYWORDS: profession, labour force supply, labour force demand, production function, forecast, Latvia.

JEL classification: J22, J23, J62, C51, C53, P2.