Employment in the financial sector of economy: features and trends
-
DOIhttp://dx.doi.org/10.21511/nfj.2.2020.02
-
Article InfoVolume 2 2019-2020, Issue #1, pp. 4-14
- Cited by
- 1494 Views
-
285 Downloads
This work is licensed under a
Creative Commons Attribution 4.0 International License
The significant transformation of employment in terms of its quantitative and qualitative characteristics is a hallmark of the current labor market. Some labor market segments differ in the market condition, growth rates, and the mechanisms of adaptation to change. This article aims at analyzing employment trends in the domestic financial sector in the context of global labor market trends. The research is based on methodological approaches to the employment study of the International Labor Organization and the information of the State Statistics Service of Ukraine. The study found out that in the pre-crisis period, employment in financial activities increased at a faster rate than other types of economic activity. However, after 2008, the trend has reversed. The concentration ratio of employees of the financial and insurance activities in the capital and in economically developed regions is moderate and steadily increasing. A decrease in the intensity of vocational training and advanced training is the negative aspect of the crisis processes in the Ukrainian financial sector.
- Keywords
-
JEL Classification (Paper profile tab)G29, J23, J44
-
References19
-
Tables6
-
Figures3
-
- Figure 1. Trends in the number of people employed in the financial sector and economy of Ukraine** in 2010–2018, ths
- Figure 2. Basic rate of decrease in the number of employed by types of economic activity in 2018, %
- Figure 3. Personnel training and upgrading in Financial Activity* in 2006–2012 according to KVED-2005, ths people
-
- Table 1. Quantitative employment characteristics of Financial and Insurance Activities in 2013–2018
- Table 2. Employee turnover in Financial and Insurance Activities in 2013–2018 (as of the year-end)
- Table 3. Number and structure of payroll employees in Financial and Insurance Activities (by regions for the period 2013–2017)
- Table 4. TOP-5 Ukraine’s regions by the share of the number of employees in Financial and Insurance Activities for 2013–2017
- Table 5. Characteristics of employee concentration in Financial and Insurance Activities by region for 2013–2018
- Table 6. Characteristics of vocational and advanced training of employees in Financial and Insurance Activities* in 2013–2014
-
- Bazylevych, V. D. (2008). Ekonomichna teoriia: Politekonomiia [Economic Theory: Political Economy] (7th ed.) (719 p.). Kyiv: Znannia-Pres. (In Ukrainian).
- Eskindarov, M. A., & Abdikeyeva, N. M. (Eds.) (2019). Realnnyy sector ekonomiki v usloviyakh novoy promyshlennoy revoliutsii [The real economy under the new industrial revolution] (428 p.). Moscow: Kogito-Tsentr. (In Russian).
- Federation of Finnish Financial Services. (2015). Work in the financial services sector.
- Gall G. (2017). Employment Relations in Financial Services (257 p.). London: Palgrave Macmillan
- Ian Lee Wei Xiung, & Elysia Lim Fei Ying. (2018, March). Financial Sector: Employment Conditions and Preparing the Workforce for the Future (Central Bank of Malaysia: Working Papers No. 20).
- Isamu Yamamoto. (2015, July 29). An assessment of the Japanese financial services sector. Geneva: International Labor Office.
- Kolot, A. M., & Hnybidenko, I. F. (Eds.) (2015). Sotsialno-trudovi vidnosyny zainiatosti: suchasni tendentsii, vyklyky, shliakhy rozvytku [Social and employment relations of employment: current trends, challenges, development trends] (295 p). Kyiv: KNEU. (In Ukrainian).
- Koretska, N. I. (2014). Protses kontsentratsii rynku bankivskykh posluh Ukrainy: otsinka ta stratehii pozytsionuvannia [The process of concentration of the Ukrainian banking services market: evaluation and positioning strategies]. Ekonomichniy forum – Economic forum, 1, 196-204. (In Ukrainian).
- Kovtun, N. V. (2012). Teoriia statystyky [Statistics theory] (399 p.). Kyiv: Znannia.
- Kravchenko, I. S., & Krasovska, I. D. (2018). Intehratsiino-adaptatsiina model rozvytku profesiinykh kompetentsii pratsivnykiv finansovo-kredytnoi sfery [Integration-adaptation model of development of professional competencies of employees of financial and credit sphere]. Rynok pratsi ta zainiatist naselennia – Labor market and employment, 1(54), 21-25. (In Ukrainian)
- Krysovatyi, A. I., & Sokhatska, O. M. (Eds.). (2018). Chetverta promyslova revoliutsiia: zmina napriamiv mizhnarodnykh investytsiinykh potokiv [Fourth Industrial Revolution: Changing Directions of International Investment Flows] (478 p.). Ternopil: Osadtsa, Yu. V. (In Ukrainian).
- Malayev, V. V., Khayrullina, G. R., Mustafina, N. R., & Mukhtasarov, E. A. (2019). Rynok truda v finansovom sektore Rossii [Labor market in the financial sector of Russia]. Azimut nauchnykh issledovaniy: ekonomika i upravleniye – Azimuth of Scientific Research: Economics and Management, 8, 1(26), 222-225. (In Russian).
- Okrepkyi, R. B., & Myhal, O. F. (2016). Metodychni aspekty vykorystannia kilkisnykh indykatoriv kontsentratsii tovarnoho rynku ta stupenia yoho monopolizatsii [Methodological aspects of using quantitative indicators of commodity market concentration and its degree of monopolization]. Ukraainskyi zhurnal prykladnoi ekonomiky – Ukrainian Journal of Applied Economics, 1(4), 81-88.
- Petrova, I. L., & Blyzniuk, V. V. (2018). Ukrainskyi rynok pratsi: imperatyvy ta mozhlyvosti zmin [The Ukrainian labor market: imperatives and opportunities for change] (356 h.). Kyiv: NAS of Ukraine; Institute of Economics and Forecasting of NAS of Ukraine.
- State Statistics Service of Ukraine. (2018). Vytraty na robochu sylu za 2018 rik. Statystycnyi zbirnyk [Labor costs for 2018. Statistical book] (74 p.). Kyiv.
- State Statistics Service of Ukraine. (2020). Rynok pratsi: zainiatist ta bezrobittia [Labor market: employment and unemployment].
- The Verkhovna Rada of Ukraine. (2013). Pro zainiatist naselennia. Zakon Ukrainy No. 5067-VI [On Public Employment: Law of Ukraine].
- Ukrinform. (2017). U NBU zapevnyly, shcho chystka bankivskoi systemy zavershena [The NBU has assured that the cleaning of the banking system has been complete].
- World Economic Forum. (2018). The Future of Jobs Report 2018. Geneva.