Sanctions and Russian Labor Market: The Effect is not Yet Evident

Санкции и российский рынок труда: эффект пока неочевиден

Victor Yu. Lyashok
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Victor Yu. Lyashok: Russian Presidential Academy of National Economy and Public Administration

Russian Economic Development, 2022, issue 8, 50-55

Abstract: The unemployment rate continues to fall, reaching 3.9% by May. This trend generated by international sanctions in the context of the economic crisis, can be explained by two reasons. On the one hand, it is a poor initial effect of sanctions, which will nevertheless intensify in the future. On the other hand, sanctions primarily affect medium and large companies, which in times of crisis are much less inclined to lay off employees compared to small businesses.

Keywords: labor market; sanctions; unemployment rate; employment; recruitment/dismissals; wage (search for similar items in EconPapers)
JEL-codes: J21 J30 J60 (search for similar items in EconPapers)
Date: 2022
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