Youth Unemployment In Russia: Scope and Issues
Monitoring of Russia's Economic Outlook. Trends and Challenges of Socio-Economic Development. Moscow. IEP. 2021. No. 7, pp. 10-13
4 Pages Posted: 24 Apr 2021
Date Written: April 15, 2021
Young people survived the crisis of 2020 relatively well. The high unemployment rate involving the 15-24 year olds in Russia (15.5% in 2019 compared to 4.6% of unemployment as a whole) is explained by the calculation specifics of this indicator. The average time required to find a job among young people in Russia is significantly lower compared to other age groups, and is close to the developed countries. About half of young unemployed people in Russia are looking for a job less than three months: this indicator is significantly lower compared to the population of other age groups. The share of “discouraged” unemployed (i.e. those who failed to find a job and left the labor market) is comparable to the most prosperous European countries.
Keywords: Russian economy, unemployment
JEL Classification: J6, J60, J62
Suggested Citation: Suggested Citation