Labor Market Adjustment: is Russia Different?

Abstract

The chapter discusses how the Russian labor market has been evolving over two decades of the transition. It starts with tracing key labor market indicators such as employment, unemployment, labor force participation, working hours, and real wages. Their dynamics indicate that the labor market tends to operate in a nonconventional fashion and not in line with expected patterns. We argue that the current Russian labor market possesses peculiar features that distinguish it from the European markets outside of the Commonwealth of Independent States. We then examine the institutional foundations that make this unconventional performance possible and proceed with discussing political economy and welfare implications. The findings are compared with the experience of other post-socialist countries.

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