Assessing the impact of unemployment and labor market factors on the economy of the Republic of Kazakhstan

Abstract

Unemployment is now the main problem of countries with developed market economies. Unemployment - a socio-economic phenomenon in which part of the labor force (economically active population) is not engaged in the production of goods and services. Unemployment is a macroeconomic problem, have the most direct and profound effect on every person. Loss of a job for most people means lower living standards and to cause serious psychological trauma. The paper discusses the basic concepts of unemployment in the economic system, describes the basic terms and definitions are given and analyzed the causes and consequences of unemployment. The paper presents statistical data, as well as highlighted the problems of development of Kazakhstan's labor market influences on unemployment, social and economic consequences of unemployment. Econometric models were made to determine the effect of labor market indicators on the economy of Kazakhstan..