Unemployment level percentage will remain high next year.

World bank and Reconstruction and Development Bank provided this data in their report on Russian economy. Unemployment level decreased from 9.2 in January 2010 to 6.6% in September (resulted 5 mln people). But, due to lack of seasonal occupation there may be unemployment growth during winter months. It’s quite possible that unemployment level remains high next year. Besides, a significant number of employed cancelled economically stirring group. Thus, Russian market situation is considered as concerning – it even led to Central Asia net migration decrease.

 

A detailed study of hiring and firing activities testifies that the situation is really 3.sophisticated, notes World Bank. In addition to those studies replacement ratios that show the relation between newly hired employees to the fired in main economy sectors reflects a negative tendency – at the current pace of economic growth there’s no labor absorption, sufficient for sustainable reduction in unemployment.

 

The financial sector is the only area where the pace of hiring workers now exceeds the rate of dismissals, but it occurs after a period of major job losses. The situation in manufacturing, power generation, transportation and gas production, telecommunication sector is gradually improving, although the replacement labor ratios remain relatively low in these sectors. Data on available job openings also show that manufacturing activity – is the only living sector searching for skilled workers. This is a bleak picture: Russian Federation is continuing to develop its raw production industry as it used to do for ages.