Modernized Beveridge Curve

The article aims to analyze the economic success of Estonia as a small an economic model of the labour market in general, his persons employed, unemployment and vacant jobs, and compare it to Estonia's main partner countries of the EU. The problem is the large number of vacancies even in a situation of high unemployment and young people move abroad, which could result in the continuation of a qualified workforce. The scientific novelty is job vacancies and unemployment relationship (modernized Beveridge curve) of Estonia and other EU countries and its the mathematical models and suggestions for improvement in the labour market.