Investigation of Labor Market Performances of G7 Countries with Integrated Standard Deviation and Gray Relational Analysis Methods

The objective of this study is to assess the labor market performance of G7 countries between 2018-2022. For this purpose, Standard Deviation (SD) and Gray Relational Analysis (GRA) methods from Multi-Criteria Decision Making methods were used in an integrated manner to evaluate the labor market performance of the relevant countries in the relevant years. First of all, criterion weights of 8 criteria, which are considered to affect the labor market performance, were obtained by SD method. Based on the results of this method, the criterion that has the greatest influence on labor market performance is the temporary employment criterion in all years except 2020 and 2021. Then, the labor market performance of G7 countries in the years of interest was evaluated with the GRA method. In conclusion, the three countries with the highest labor market performance were Canada, France and the United Kingdom in 2018-2020, and France, Canada and the United Kingdom in 2021 and 2022. Italy ranks last in all years.