In this article mechanisms of labor market adjustment to structural changes in economy are analyzed. It is revealed that the mechanisms of quantitative adjustment are connected with preservation of unnecessary labor, weaker competition for workplaces. Mechanisms of qualitative adjustment do not provide reaction of educational services market to structural changes in economy. Mechanisms of wages do not stimulate labor tranfer into new spheres in economy. Mechanisms of institutional adjustment do not promote coordination of the above mechanisms. For successful adaptation of labor market to structural changes in economy following steps are necessary: reduction of inefficient workplaces; socially responsible restructuring (including retraining and modern methods of personnel work); coordination of educational services market and labor market; realization by wages of the function stimulating workers to productive and qualitative work; increase of labor market institutional flexibility.