{"id":5530,"date":"2026-06-03T07:41:08","date_gmt":"2026-06-03T07:41:08","guid":{"rendered":"https:\/\/interfinance.tsue.uz\/?p=5530"},"modified":"2026-06-04T08:24:06","modified_gmt":"2026-06-04T08:24:06","slug":"the-impact-of-the-labour-market-on-uzbekistans-financial-security","status":"publish","type":"post","link":"https:\/\/interfinance.tsue.uz\/?p=5530","title":{"rendered":"THE IMPACT OF THE LABOUR MARKET ON UZBEKISTAN\u2019S FINANCIAL SECURITY"},"content":{"rendered":"\n

Yodgorov Sardorbek Samadovich<\/em><\/strong>
Lecturer, Department of Economic Theory, TSUE<\/em><\/p>\n\n\n\n

e-mail: <\/em>s.yodgorov@tsue.uz<\/em><\/a><\/p>\n\n\n\n

ORCID:0000-0001-6289-2815<\/em><\/p>\n\n\n\n

Abstract.<\/em><\/strong> Safeguarding financial security is a key prerequisite for the sustainable socio-economic development of the Republic of Uzbekistan and for achieving the United Nations Sustainable Development Goals. At the same time, the labour market\u2014by absorbing shocks originating in the real sector\u2014acts as a major transmission channel through which systemic risks reach the financial sphere. This article quantifies the extent to which core labour-market parameters (the unemployment rate, the employment-to-population ratio, and labour productivity) determine the country\u2019s macro-financial stability. The study\u2019s novelty lies in the comprehensive integration of labour indicators into Uzbekistan\u2019s macro-financial monitoring framework and in empirically demonstrating their high explanatory power in assessing systemic risks. The methodological approaches and policy recommendations proposed here can be applied by regulators and market participants to enhance the resilience of the financial system and mitigate the impact of future shocks.<\/em><\/p>\n\n\n\n

Keywords: <\/em><\/strong>financial security; labour market; unemployment; macro stress testing; hybrid models; fintech data; early-warning indicators<\/em><\/p>\n\n\n\n