Russian labour market and COVID-19: present and future

Dudin M.N.1
1 Российская академия народного хозяйства и государственной службы при Президенте РФ

Journal paper

Economics and society: contemporary models of development (РИНЦ)
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Volume 11, Number 3 (July-september 2021)

Citation:

Indexed in Russian Science Citation Index: https://elibrary.ru/item.asp?id=48250102

Abstract:
The article presents an analysis of the Russian labour market amid a new coronavirus infection. It is shown that the market demand for labour resources is focused on the provision of remote services to the population, such as courier delivery, e-commerce, etc. Thus, there is currently a maximum supply of labour. But strategically, the Russian economy is characterized by structural unemployment. In high-tech industries and spheres there is a shortage of labour resources, on the contrary, in low-tech industries labour resources are redundant. This is complemented by a territorial imbalance in terms of labour supply and demand. In this situation, systemic measures that will simultaneously stimulate economic growth by increasing effective demand are needed. This means that support for the restoration of those jobs that were closed during the first three waves of the epidemic is required. The second most important area is structural economic and educational reforms, which will provide training and professional development of labour resources in the context of a new quality of demand.

Keywords: labour market, epidemic, COVID-19, structural unemployment, labour resources, competencies

JEL-classification: E24, J31, F66

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