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Russian Demand for Labor is Falling, Just Like the Number of Job Seekers
1.03.2020 10:58
Russian Demand for Labor is Falling, Just Like the Number of Job Seekers

Russian demand for labor is falling, just like the number of job seekers.

      At the Russian labor market, demand for workers is decreasing, but supply also does so: due to this, unemployment rate in Russia is not growing.

      In 2019, the number of jobs decreased by about 400 thousand positions, as compared to the previous year: this indicator made upapproximately 73.4-73.5 million people. The unemployment rate was falling due to the reduction in the number of Russians of the working age. Experts note that the share of employees in the age category from 23 to 47will decrease at the most intensive rate, however, raising the retirement age will slightly minimize the problems. Nevertheless, a decrease in the number of employed people may affect the real economy, because matureworkers are mostly active not in it, but in education, healthcare, science, etc.

Author: Anna Dorozhkina

Tags: Russian economy     

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