FINANCING OF SOCIAL EMPLOYMENT PROJECTS IN GLOBAL CONTEXT

The process of globalization, characterized by economic and political interconnection of current economies, broadens the scope for all economic entities to operate globally. The current world economy creates a globally closed and heterogeneously structured social and economic system. The economic benefit of globalization is also reflected in the fact that total labour productivity is growing faster when commodities are produced in countries, by production of which they have a comparative advantage, resulting in a faster growth of the life standard. The social dimension of globalization creates more attractive job opportunity and working conditions, affecting income and social welfare in the society. The primary need for a globalized labour market is an increase of labour force flexibility as well as creation of jobs that depend on appropriately interconnected markets where competition and consumers stimulate their entrepreneurial activities. There are several obstacles in the global market that need to be eliminated, such as unemployment, which is the accompanying phenomenon and the threat of the current global economies. It affects the economic performance and the quality of life in the country. A major problem in Slovakia is disproportion between the interconnection of labour market needs and the quality and structure of branches in education system, the low ability of the economy to support job creation, resulting in high unemployment of young generation. The main causes of the unemployment issue on the global labour market focus mainly on education and employment policy, which also include European social employment projects that are applied globally.