MOSCOW, June 30. /TASS/. The labor market in Russia is cooling down but the labor shortage remains a constraint on economic growth, Minister of Economic Development Maxim Reshetnikov said in an interview with Vesti news program.
"The labor market does not exist in a vacuum; it exists within the current economic cycle. The situation varies greatly and is fragmented across different sectors of the economy," the minister said. "In some areas, there is a shortage, with the number of job openings far outnumbering the number of resumes; on the other hand, trends show that the labor market is, so to speak, cooling down," he noted.
"In some sectors, we see a four-day workweek, while in others we observe underutilization of capacity, particularly in the engineering and capital goods sectors," Reshetnikov said. Human resources as such remain the main constraint in the economy, he added.