CYCLIC FLUCTUATIONS OF THE RUSSIAN AND FOREIGN LABOUR MARKET INDICATORS: IN SEARCH FOR NON-STANDARD REACTIONS
Population and Economics 2(1): 143-167, doi: 10.3897/popecon.2.e36041
CYCLIC FLUCTUATIONS OF THE RUSSIAN AND FOREIGN LABOUR MARKET INDICATORS: IN SEARCH FOR NON-STANDARD REACTIONS
expand article infoA. Semenkov
‡ Rosenergoatom Concern JSC, Russia
Open Access
Abstract
The article presents the results of a comparative analysis of the dynamics of trend-cycles of macroeconomic indicators of the Russian and foreign labor markets for the period from the I quarter 2003 to the IV quarter 2015. The work analyzes fluctuations in the trend-cycles of the following indicators: the level of participation in the workforce (level of EAP), the level of employment and unemployment measured by the ILO methodology. As foreign labor markets, 25 OECD countries are taken. Correlation coefficients between all the labor markets examined for these indicators were estimated. In addition, fluctuations in trend-cycles of indicators are ranked according to the degree of sensitivity to the crisis phenomena of 2008. It is established that the Russian labor market was not characterized by non-standard reactions in comparison with foreign labor markets, including in response to the crisis events of 2008. In this regard, the hypothesis of a “special model” of the Russian labor market has not been confirmed.
Keywords
Russian labor market; cyclic reactions; macro indicators of labor markets; cross-country analysis