“Labor Productivity” National Project as a factor in balancing regional labor markets

The article is devoted to implementing the national project “Labor productivity increase” as a factor ensuring the balance of regional labor markets. For the research, the authors have reviewed the most significant publications on the topic of the research, analyzed the existing theoretical approaches to evaluating the effectiveness of state programs to stimulate labor productivity and employment support, and the best regional practices in the implementation of this program. It was substantiated that achieving a balance of regional labor markets to improve the quality of human capital requires the effective implementation of the “Labor productivity increase” national project. Based on the calculations made by the authors of the study, it is proved that the implementation of the national project through the organization of a system of training and retraining of employees contributes to the growth of investment in human capital. It was substantiated that the national project’s effectiveness can be evaluated using indicators of satisfaction with the quality of services provided by employment services. The study results allow to identify and analyze the program’s key economic and social effects. The conclusion is that the point nature of the program ensures the achievement of multiplier effects, which appear initially at the micro-level, and then projected to the regional level, contributing to the balance of the regional labor market by reducing the shortage of highly qualified specialists.