Effects of Economic Sanctions on Russian Labor Market

Russian labor market responds to Western sanctions. A timely control of these reactions makes it possible to take measures and eliminate the imbalance of supply and demand of labor resources. The authors identified the effects of economic sanctions in 2022–2024 as part of an economic and statistical study of Russian labor market and developed a set of measures that could level the negative impact. They used the methods of economic analysis, logical approach, and comparison to conduct a dynamic analysis of the labor market in 2021–2024 and reveal the causes of the current situation in the context of economic sanctions. The effects of the economic sanctions of 2022–2024 on the Russian labor market were classified as negative, dual, and positive. The negative ones can be leveled by institutional and organizational state policy measures. Despite the current brain drain, the demand for labor in manufacturing and high-tech areas is increasing due to the development of domestic production, which creates new jobs. As a result, the labor shortage and the labor market imbalance are more acute. Instead of restraining the Russian economy, the sanctions have led to structural changes in the Russian economy.