Labor Market in 2017

Victor Lyashok – Senior Research fellow of the Labor Market and Pension System Research Department, Institute for Social Analysis and Forecasting, Russian Presidential Academy of National Economy and Public Administration. E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

In 2017, the labor market was recovering after the crisis: the rate of unemployment declined and wages increased. Recovery processes were largely facilitated by workforce reduction which began last year.  The first evidence of labor shortages emerged on the labor market which saw full employment for quite a long period of time.

Key words: labor market, employment, unemployment, wages and salaries, the formal sector of the economy and the informal sector of the economy.