The definition in comparison to scope and scale of market structure changes and broadens beyond the traditional conception of the neoclassical economic theory in an era of globalization. The extent of the market for goods and services integrates with digital economies and networks all around the world. Rapidly developing technology, together with ever changing economic and social structure, cause new trends to occur and continue unprecedentedly in the 21th century. In line with the global and technological transformation of market structures and functions, the strategic significance of information is also increased within the decision making process of employees and employers, entrepreneurs and other economic agents. In today’s business world, innovation based production projects of innovative entrepreneurs are particularly effective and decisive on the formation of expectations and demand dynamics.

In order to establish an equilibrium state for demand and supply of labour at the full employment level, the amount and cost of information in labour markets must be at an optimum level. In this sense, the foundation of the micro infrastructures of macroeconomic equilibrium state of the economy requires technology based innovation of information systems. The flow of information disseminates through the economy via economic institutions and organizations. Besides, networks beyond markets play an important part of the information transmission mechanism. The information systems innovation within the general structure of organizations in the economy minimizes Keynesian coordination failures, and thereby accelerates the restoration of equilibrium after a randomly external and fully anticipated economic shock which is a sole source of informational frictions.

In accordance with the general definition of the International Labour Organization (ILO), labour market information comprises of all kinds of knowledge related with the structure and extent of the labour market. The structure and extend of the market, together with supply and demand, also relate to the social structure. The industry 4.0 formed by phenomenological new concepts such as internet of things, big data, digital technologies, virtual currencies, artificial intelligence and innovation, rendered it difficult to understand and define the continuously developing and broadening borders of networks beyond markets. The strategic decision making and learning processes, which are embedded in expectations models of economic agents, are getting more complex by cumulatively growing global integrations. The information systems that are decisive in qualified and unqualified employees’ search for work in the labour market also lead to changes in the formation of the division of labour. The classical proposition which asserts that the division of labour is limited with the extent of the market, now opens and paves new ways of philosophical interpretations and scientific intuitions by the introduction of information technologies.

Motivated by the characteristic conditions of an innovative paradigm shift, global socioeconomic transformation of societies and modus operandi of the business world, this article analytically, theoretically and practically examines the innovation based structural reforms and novelties in information systems infrastructure of ILO under a new construction of economic systems in a changing world. The plan of the article is as follows. The introductory first part depicts fundamental elements and background of the work in the context of adaptation and integration processes of global economies to large scale technological changes in the world. The second part is devoted to a comprehensive literary review and to the theoretical apprehension for organizational integration of information systems innovation in a conceptual framework.

The third part deals with the theory of functional and strategic information systems innovation. Different types of information systems innovations are defined according to particular organizational innovation models in the literature, and then information systems of innovation are set into a structural context of innovation ecosystems per se comprised of complex international systems of innovation. The fourth part is appropriated for innovation based structural reforms of ILO. These reforms fall under three chief functional categories, and each category signifies a particular portfolio in the hierarchical structure of the ILO headquarters. These three portfolios are the policy portfolio, management and reform portfolios, and field operations and partnership portfolios. Information systems of each portfolio are also examined in separate sections of the fifth part. The sixth part concludes with a general discussion and appreciation of the subject matter. Functional and strategic effects of structural reforms in the very constitution of the ILO indicate successful fulfilments of its chief aims. As a result, Keynesian coordination problems in global markets are also alleviated by the use of information technologies in the organizational infrastructure.