THEORETICAL FOUNDATIONS FOR LABOUR MARKET ANALYSES AND FORECASTS

This article focuses on theoretical foundations for analyses and forecasts of the labour market, related in particular to the issue of forecasting employment. The paper presents basic categories of the labour market, as well as, economic relations occurring in it, which play a pivotal role in shaping the level of employment. It also draws attention to the achievements of economic theory related to the factors determining the level of demand for labour, which are the basis for building casual forecasting models. Particular attention is paid to the importance of the decisions concerning methodological aspects of forecasting. The basic constraints emerging in forecasting process and their impact on the results are assessed as well. Adapted from the source document.