Global Labor Market and Challenges of Digitalization

The present article examines the world labor market under the influence of increasing globalization and technologies of the Fourth Industrial Revolution, having made the beginning of the digital transformation of the world economy. Such general alterations caused by technological changes in general as growth of labor productivity, increasing of labor mobility and competition, reducing of transaction costs in the labor market are reflected in the research. Specific tendencies and new segments in the labour market have been identified. The key challenges - the substitution of a person for cars, Artificial Intelligence, the growth of structural unemployment and inequality of incomes as a result of a digital gap, new requirements to the human capital are at the focus of attention. The state should reduce risks in the labor market by ensuring a comprehensive and systematic solution of these problems through industrial, innovative and workforce policies, special training programs, and improving digital legislation