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Labor market dynamics in Russia in 2022

Author

Listed:
  • Lyashok Viktor

    (RANEPA)

  • Podverbnykh Ulyana

    (RANEPA)

Abstract

In 2022, the labor market saw an ambiguous situation. On one side, in 2022 it completely recovered after the coronacrisis: the level of unemployment fell below the pre-crisis values and wages kept growing in real terms. On the other side, as far back as the beginning of 2022, the Russian economy encountered various, mostly negative, implications related with the special military operation, including foreign economic sanctions and the exit from the Russian market of a number of foreign companies, while from September it was the partial mobilization and increased outflow of a portion of the workforce abroad. At the same time, the Russian economy demonstrated a high degree of resilience and economic recession turned out to be substantially lower than predicted at the beginning of the year. In the new economic environment, employers have been actively using the main mechanisms of adjustment to economic crises since last spring; these mechanisms have been developed during the past 30 years and helped overcome effectively the most acute phase of adaptation.

Suggested Citation

  • Lyashok Viktor & Podverbnykh Ulyana, 2023. "Labor market dynamics in Russia in 2022," Published Papers ppaper-2023-1296, Gaidar Institute for Economic Policy, revised 2023.
    • Handle: RePEc:gai:ppaper:ppaper-2023-1296
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    File URL: https://www.iep.ru/files/RePEc/gai/ppaper/ppaper-2023-1296.pdf
    File Function: Revised Version, 2023
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    More about this item

    Keywords

    Russian economy; labor market; unemployment; employment;
    All these keywords.

    JEL classification:

    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
    • J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand

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