Labor market trends in Russia (1990-s - present) Anastasia Savvateeva Andrey Yushkov.

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Presentation transcript:

Labor market trends in Russia (1990-s - present) Anastasia Savvateeva Andrey Yushkov

Outline Long-run trends of major labor market indicators Business cycle properties (cycle is isolated from trend using HP-filter) Russian labor market during the Great Recession Comparison with USA labor market

Long-run trends

Current labor market situation (2013) Unemployment rate – 5.7% (record-low) Highest unemployment – Northern Caucasus (13,6%) Average real wage – 30,000 rubles (EUR 700) Age structure (44.3% among all unemployed are at the age of 20-34)

Business cycles

Labor Market and Great Recession Causes: – Decrease in the (European) demand for Russian goods – Sharp decline in oil and gas prices Major results: – Unemployment increased from 5.7% (2007) to 8.9% (2009) – Real wage declined by 3.5% in 2009 Why not so severe as in Europe? – Measurement problems (black wages, fictitious employment) – Short-hours regimes in huge companies

Comparison with the USA USARussia 1. High activity of all participants 1. Labor agencies stay aside 2. Wage is set through negotiations 2. Two-tier system of wage 3. The role of labor unions 4. Life-time employment4. Voluntary layoffs

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