Modern Labor Market in the Conditions of Digital Economy Development

The labor market is a fundamental element of the economy of any country, and the functioning of the national economy depends on its dynamics and condition. The article analyzes the problems and trends in the field of the labor market in the context of the formation and development of the digital economy. Based on the data obtained, a number of key recommendations have been compiled to eliminate existing problems and improve the situation of labor market in the world. The basic professional competencies that an employee should possess in the modern world are considered. A decision-making method based on stochastic factor analysis when choosing the measures necessary for implementation in the labor market is proposed. © 2021, The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.