The area where there is a supply of any resources and the demand for them is formed is called the market. Due to the fact that anything can be a product, different markets are distinguished from each other. The labor market is one of the special structures, since it sells and buys not just goods, but labor, which is inseparable from the carrier - the person. As a result of this, this economic category has a number of features in its functioning. Since each person is endowed with his own set of labor qualities and knowledge, competition in the labor market between people for the right to obtain better employment conditions will inevitably arise.
The concept and functions of the labor market
This type of market is considered as one of the markets for factors of production, that is, human labor is a resource that is involved in the creation of other goods and services. The labor market is a conditional structure that does not have clear boundaries on which labor is offered and bought. The subject of the proposal are people endowed with certain professional qualities, knowledge and experience. The subjects acquiring labor are enterprises of various sectors of the economy that have a need for certain workers. 
The labor market performs very significant functions. Firstly, it sets the price of human labor, expressed in wages. Secondly, there is a distribution and redistribution of labor across the economy. Thirdly, this is a constant exchange of information about changing needs for a particular workforce.
The difference between the labor market and other markets
The peculiarity of the economic structure under consideration is that it does not work with an impersonal product or service, but with a person who has unique indicators. It is impossible to sell or buy goods in this market without the will of the carrier of labor. At the same time, the process of how much and in what quality the product will be on the labor market can be affected by many completely non-economic factors. These include: demographic processes, the regional structure of the workforce, gender characteristics, cultural and religious traditions, wage fluctuations, social processes in society. Such a variety of diverse reasons leads to the formation of very special processes of supply and demand of labor. 
Labor supply and demand
As in any other market, the product must be offered and in demand. The labor market does not differ from classical markets - there is also a proposal for a special product (labor force) and a request is made for it. Demand forms business and government agencies that require workers of certain skills to function effectively. The proposal is created by people who are ready for a certain price of labor to apply their knowledge and skills to participate in production activities. The equilibrium of the labor market will be achieved when supply and demand converge at one point. This point will show what salary suits both parties. Thus, supply and demand in the labor market are fundamental in the mechanism of achieving an equilibrium position. 
Labor price
Salary is an indicator that characterizes at what level the two sides of the market can agree.The price of labor or wages varies in different segments and sectors of the economy, and also has regional differences. This means that workers of the same qualifications and labor indicators in different regions can receive different salaries. The same applies to the areas of activity of enterprises. In economic areas, there may be differing minimum wage thresholds. That is, when wages are assigned less than a certain level that has been established in this area, new workers will not come into it. For example, the field of computer technology and construction is characterized by significantly higher salary indicators than salaries in the service sector.
Each of the economic sectors requires a certain preparation, therefore, qualification, however, there are non-economic reasons for differences in the price of labor. Most often, those areas of activity that are related to female labor will have lower wages. This becomes the reason that competition in the labor market is aggravated within each individual sector of the economy. We will understand why. 
The reverse dynamics of labor supply
Supply and demand on the labor market will not exist separately, but the latter has a peculiarity that is connected with the fact that the employee decides how much working time he is ready to offer on the market. There is a clear pattern in changing the volume of labor supply depending on the growth of wealth. That is, in the process of the formation of a person as a skilled worker and the growth of his wages, the value of non-working time becomes higher than the time spent on labor. In labor economics, this phenomenon is associated with the action of two effects - the substitution effect and the income effect. As long as a person is ready to spend more time on work than is even paid to him by wages, the effect of substitution acts. The income effect begins to appear when even an increase in wages does not become a sufficient motivating factor for maintaining or increasing employee time.
Problems of balancing the labor market
In order for each employee to find a job, and the employer to select the necessary employee, there must be a balance in the labor market. A balance is reached at the point of contact between the wishes of the employee and the requirements of the employer. But most often both sides are in an unbalanced form. On the part of the population, there may be a large supply of labor, on the part of enterprises, a substantial need for workers, but at the same time, equilibrium will not be achieved.
The imbalance is most often associated with a mismatch in the price of labor. The salary at which the employee is ready to offer his work is much higher than the one at which they are ready to “buy” labor. High competition in the labor market for more favorable conditions of employment forces workers to agree to uninteresting conditions of employment, such as a longer working day or receiving wages in envelopes. 
Labor market discrimination
Quite often there is a proposal of very similar labor characteristics, which at different enterprises receive completely different wages. This phenomenon, when employees receive different valuations for the same professional indicators, is called discrimination. Reasons may be objective, such as the financial capabilities of various enterprises. More frequent prerequisites for manifestation of discrimination come from gender and age differences of workers, educational level and other factors. As a result, competition in the labor market is becoming even more tangible.
Quite often, one can meet the inequality of workers in access to one workplace due to differences in education. A diploma of a higher educational institution alone does not guarantee the necessary experience and qualifications of a future employee, but is a kind of signal to the employer that a potential employee can be more efficient.
Employee competition
The problems of the labor market in the field of lack of constant balance lead to the fact that everyone can be among those who are looking for work. However, competition arises both because of access to a potential job, and already in the process of struggle for a specific offer of the employer. Tough conditions of competition in the labor market require continuous improvement of the level of qualification and gain experience. That is why we can distinguish several categories of the population that are most vulnerable. These include:
- workers of older age categories who are becoming less susceptible to new technologies and, for objective reasons, less mobile;
- workers, most often women, with young children who may also have less mobility;
- narrow specialties who are in demand only at certain enterprises;
- disabled workers with working groups;
- workers with little experience.
Thus, competition in the labor market is closely interconnected not only with economic and professional components, but also with the social and gender specifics of population groups. It is the combination of these components that leads to the fact that achieving a natural level of unemployment in almost any economy becomes a priority task in the field of employment. 
It should be noted that competition, in fact, is not a problem, but rather an option for resolving the issue of obtaining the best result in terms of choice. There is the concept of “perfect competition in the labor market”, when neither side can affect wages, there are no differences in qualifications, and each side has the maximum possible information about the other side. However, this situation is achievable only in very narrow professional areas, therefore it is considered as an ideal model of competition.
Unemployment problem
One of the main results of the imbalance of supply and demand is the presence of unemployment. This phenomenon means that the able-bodied population, which actively offers its labor force, cannot be provided with a job that would suit him in terms of necessary parameters. There are objective and subjective causes of unemployment. The objective ones include the lack of jobs for specific qualifications, the level of remuneration, which is significantly lower than the average wage. Subjective reasons include overstated requirements of candidates for wages, geographical remoteness even within the same city, incorrect assessment of their own qualifications, which does not allow taking such an employee to a certain position.
In the absence of structural crises in the economy, the problem of the mismatch between the expectations of the employee and the employer most often manifests itself. In such cases, you can observe a large number of vacancies and those wishing to find work, but as a result, changes in the situation may not occur.
New types of employment
With the development of information technology, it is increasingly possible to see employment methods that were previously inaccessible to the employee. This is primarily remote work and virtual employment. The peculiarity of these types of employment is that a person is actually distant from his employer, and sometimes he may never even be personally acquainted with him. Moreover, various communication channels create the ability to fully perform the designated labor functions and receive wages.Quite often, workers from other countries are hired in this way, where conditions for paying wages are more favorable for the employer. Virtual employment also has its drawbacks, both social and legal. Such an employee is more often exposed to the risks of non-payment of wages, as well as the loss of social ties due to spending most of the time at home at work. Nevertheless, it is recognized that with increasing involvement in Internet technology, the number of virtual employees will increase. 
State mechanisms for regulating the labor market
As a result of the fact that there are many problems associated with unemployment (the presence of particular manifestations of competition in the labor market, discrimination), there is a need for centralized regulation. The state acts not only as a major employer, but also as a governing body. The main task is to create conditions for labor market participants in which they can find each other with maximum speed. One way to connect enterprises that are experiencing a shortage of personnel with job seekers is the interaction of both parties with labor exchanges. These specialized agencies are available in every major city. The labor exchange, the vacancies of which are formed by the data submitted from enterprises for the needs of the workforce, are most often filled from among those who came to the exchange in search of work. It should be noted that most of the applications come from government agencies.
Other ways of the state’s work on the labor market, in addition to creating the right field, are to support unemployed citizens for the period of job search, advanced training and retraining of workers, and providing subsidies for starting their own business. In each of these areas, the labor exchange plays an important role. Jobs from enterprises - this is not the only way to work with unemployed citizens.
Conclusion
The labor market is an economic structure that has the specifics of the process of matching supply and demand. The product that is traded in this market is special - it is work inseparable from the person. Due to the influence on the labor market of not only economic, but also social, demographic, ethnic and cultural phenomena, this area requires very careful regulation. Moreover, there is competition in it, both between the subjects of demand and supply. Factors limiting competition in the labor market cannot fully influence this mechanism and create completely equivalent access to jobs. In a market economy, the main and most effective way to increase your position is to develop competitive advantages both on the part of the employer and the potential employee.