MOSCOW, May 22. /TASS/. Russian presidential aide Maxim Oreshkin expects a full recovery of Russia’s labor market to its pre-crisis levels by the end of this year.
"Thanks to energetic measures and the active support for demand last year, unemployment has already dropped from 6.4% to 5.4%, and one million jobs have been restored in the Russian economy. We expect a full recovery by the end of the year, and [hope] that the labor market will return to its pre-crisis level," Oreshkin said at the New Knowledge marathon on Saturday.
According to the Russian presidential aide, Russia’s working-age population will be decreasing until the second half of the 2020s, and that will have a negative impact on economic growth.
"We can see that since about 2013-2015 Russia’s economy has faced a dramatic decline in the working-age population, which will last until the second half of the 2020s. It is something that was predetermined and nothing could be done about in the past 20 years, and certainly, it has become of the serious factors in curbing the pace of economic growth," Oreshkin said.
Russian President Vladimir Putin had earlier set the task to revive the country’s labor market to the levels of 2019 by the end of 2021.