Russia Has High Employment
In the last year, the number of those employed in the Russian economy increased by only 300,000 people, or 0.4 percent, according to data published by Rosstat yesterday. Economists are concerned that the country’s labor resources have been fully tapped and the extensive model of economic growth is exhausting itself. Investment and increased efficiency of labor are needed.
As of February 2008, 66.8 percent of the Russian population ages 15-72 was economically active, amounting to 74.8 million people. Of those people, 69.5 million were employed and 5.3 million recognized as unemployed. Unemployment fell 1.5 percent in the previous year. Deutsche Bank’s Yaroslav Lisovolik says that every 1-percent increase leads to an increase in the GDP of 1.3 percent.
Employment in previous years rose much faster. Between February 2004 and 2007, employment rose by 5.6 percent, or 3.7 million people. While previously people who had not been expected to work before – young people, pensioners and women with children – were entering the economy, now only the impoverished, handicapped and marginalized remain economically inactive, experts say. While other developing country can depend on women to boost the ranks of the employed, in Russia, women are employed as often as in industrially developed countries.
www.kommersant.com
All the Article in Russian as of July 09, 2008
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