FLEXICURITY AS A FORWARD-LOOKING MODEL: EVIDENCE FROM NMS-12

The abstract should summarize the content and conclusions of the paper in less 200 words (Typically around 10 sentences). It should not contain any references or displayed equations. Typeset the abstract in 10 points, italic. Labour market in the NMS is extensive and expanding. Sound macroeconomic policies are essential to support a well-balanced economic expansion and the full realisation of current growth potential at the fact that long term unemployment remains one of the most persistent problem and social issue facing many economies. Labour market policy and social policy in the NMS are facing a challenge to regulate a rapidly evolving labour market in the context of the globalized economy. The NMS are seeking more stability and security in order to encourage employers to invest more in human capital to be able to boost productivity and competitiveness. Countries need to promote more flexibility and adaptability for both � enterprises and workers, and to better balance them with security. The share of traditional forms of flexible employment, such as fixed term and part-time jobs and other possibilities, has remained fairly stable; there has been a rise in employment based on non-labour contracts or work performed without a contract. Flexicurity system contributed to higher employment and also to higher mobility between unemployment and employment labour force in some European economies. Attitudes, values and tradition of certain economy are preconditions for successfullness of the flexicurity system.