Oriental Studies (Apr 2018)
Russian Labour Market: Problems and Perspectives
Abstract
One of the main concerns is difficulty of assessing labour market situation and determining perspectives of its development in quickly changing environment. In scientific literature there is no comprehensive analysis of the Russian labour market facing economic and “geopolitical crisis» because of non-typical situation. As a result of expanding world economic relations, large-scale globalization stable international economic and industrial links are destroyed by means of artificial sanctions aimed at isolating a significant subject of world economic relations. In such conditions comprehensive analysis of labour market becomes more and more actual. It can be carried out with the help of different economic and scientific methods including factor analysis and PEST-analysis. Analyzing factors dynamics for a definite time period enables us to reveal key features of the analyzed market, explain tendencies of its development and to develop a forecast for the future period. At that it is important to highlight those factors the influence of which will be dominating for this particular labour market. Efficiency of labour market control depends to the larger extent on the chosen measures. PEST-analysis is considered to be the most reasonable for this purpose. For researching the labour market the following factors are considered to be actual: demographic; political and geopolitical; economic; social and cultural tendencies; technological innovations. Because of structural changes in market economy there is a necessity of proportional development of production factors including labour force. Modern labour market is characterized by high labour force turnover. Among young employees there is a stable tendency to change jobs with acquiring professional experience. Regional labour markets are subject to migration processes that in its turn can affect the balance of supply and demand of labour force. Structural unemployment is exacerbating as a result of production modernization in regions that lack qualified labour force, and is worsening being affected by risks of closing or cutting some manufactures. Inter-firm or inter-industry transfers of labour force will be increasing as a result of restructuring of economic environment. High school graduates cannot realize their career potential and find job according to their specialty. Geo-political state of Russia is likely to worsen world position of the country than to strengthen it, that in its turn negatively influence the labour market. In the light of Russia’s implementing retaliatory import sanctions there will be a necessity to expand domestic production that can stimulate additional job creating in the country and provide part of working population with jobs.
