Modern trends of the international labor force migration

Abstract

The modern trends of the international labor force migration and the main migration corridors are analyzed in the paper. According to the United Nations Department of Economic and Social Affairs, in 2017, the global stock of international migrants (including refugees) was an estimated 258 million. Inequality between supply and demand on the labor market is a main problem of modern international migration processes. It is possible to make a conclusion about the global increase of amounts of labor migration all over the world, in all the countries and regions. The main trends of remittance flows are also studied. The amount of remittances in 2018 was $689 billions. And $518 billions were sent to the developing countries. In relative terms, remittances in nine countries accounted for over a fifth of the gross domestic product (GDP) in 2018; in the case of Tonga, remittances represented 36 % of the country’s GDP. As a conclusion, it should be said that the amount of remittances is an important macro economical figure. Its inflow can ensure the increase of foreign currency’s supply in the country.