The COVID-19 Pandemic and its impact on the global labour market: an analysis of emerging trends (part two)
Research Article
How to Cite
Odegov Y.G., Razinov A.E. The COVID-19 Pandemic and its impact on the global labour market: an analysis of emerging trends (part two). Living Standards of the Population in the Regions of Russia. 2021. Vol. 17. No. 2. P. 216-227. DOI: https://doi.org/10.19181/lsprr.2021.17.2.5 (in Russ.).
Abstract
In the context of the economic crisis caused by the spread of coronavirus infection, the global labour market has faced serious challenges, on the timeliness and effectiveness of the response to which the viability of the world economy today depends. The crisis is global in nature and has a significant impact on investment, global value chains, and international trade, with serious consequences not only for the economy but also for the working-age population in all countries of the world. The global economic turmoil caused by the coronavirus pandemic requires a thorough analysis of the scale of its consequences in order to determine the most rational solutions. A situation of uncertainty about the future, fear of devastating consequences, and pessimistic forecasts were the companions of the first days of the pandemic. This article provides the first estimates of the level of unemployment and employment in various countries of the world in 2020. The article is divided into two parts due to its large volume. The first part analyzed the impact of the COVID-19 pandemic on the level of employment in various countries of the world, its consequences for the global labour market in the context of changes in the income of employees, and the amount of time worked. The features of the adaptation of the labor markets of individual countries of the world, as well as the reasons for the differences in the dynamics of the unemployment rate in different regions of the world, are revealed. The calculations of the employment elasticity coefficient for GDP for a number of countries of the world are carried out, the analysis of the obtained values is carried out. The segments of the labour market that are most affected by the impact of the pandemic are identified. The second part of the article identifies the main trends inherent in the Russian labour market before the outbreak of the epidemic and the trends whose outlines became visible during its manifestation. The essence of the main changes that occurred due to the need to adapt to new conditions is revealed. The main differences from the mechanisms of selfregulation of the labour market, which appeared during the previous economic shocks, are revealed. The impact of the pandemic on informal employment in the Russian economy is considered
Keywords:
COVID-19, labour market, unemployment, employment, informal employment, remote work, labour income, working hours
References
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3. Vedev A.L., Drobyshevsky S.M., Knobel A.Yu., Sokolov I.A., Trunin P.V. Scenarios of the development of economic situation in Russia in 2020–2021 and challenges for economic policy. Russian economic development. 2020. Vol. 27. No.5. P. 4-23. (In Russ.).
4. Zolotov A.V., Zolotov S.A. Realization of the UBI principles as an answer to the covid-19 challenges. Standards of the Population in the Regions of Russia. 2020. Vol. 16. No. 4. P. 96-104. DOI: 10.19181/lsprr.2020.16.4.8 (In Russ.).
5. Kolesnikova O.A., Strebkov A.A. Advanced distance employment as a trend: problems, solutions, prospects. Social and labor research. 2020. No. 41(4). P. 57-67. DOI: 10.34022/2658-3712-2020-41-4-57-67 (In Russ.).
6. Mukhina I.I., Sindyashkina E.N. Employment and unemployment: crisis or new opportunities. Social and labor research. 2020. No. 3. P. 56-67. DOI: 10.34022/2658-3712-2020-40-3-56-67 (In Russ.).
7. The volatility of employment: the international and Russian contexts of the future sphere of labor. Scientific ed. Bobkov V.N. Moscow: Real Print. 2017. 560 p. (In Russ.).
8. Instability of employment (precarious): special and general, considering the integration efforts of the state and society. Editor-inchief V.N. Bobkov. Moscow: Publishing House MASTER-PRESS. 2015. 448 p. (In Russ.).
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10. Obshchestvo i pandemiya: opyt i uroki bor'by s COVID-19 v Rossii [Society and the pandemic: experience and lessons from the fight against COVID-19 in Russia]. Ed. by V.A. Mau. Moscow: 2020. 744 p. (In Russ.).
11. Prognoz osnovnyh pokazatelej social'no-ekonomicheskogo razvitiya RF na 2020–2023 gody [Forecast of the main indicators of socio-economic development of the Russian Federation for 2020-2023]. A. Vedev, S. Drobyshevskij, A. Kaukin, A. Knobel', E. Miller, P. Trunin, K. Tuzov, D. Zajcev, A. Kos'yanenko, I. Orekhina, E. ZHevnov, N. Galickaya, T. Arhipova. Schetnaya palata Rossijskoj Federacii, Institut ekonomicheskoj politiki im. E.T. Gajdara/ Moscow: 2020. 33 p. (In Russ.).
12. The Russian labor market: trends, institutions, structural changes. (2017). Report of the Center for Labor Studies (CESTI) and Laboratories of Labor Market Research (LIRT), HSE. Ed. by V. Gimpelsoan, R. Kapelyushnikov and S. Roshchin. Moscow: CSR, HSE. 148 p. (In Russ.).
13. Rossijskoe upravlenie. CHast' 2. Funkcional'nyj menedzhment i ego osobennosti. Uchebnik (The Russian management. Part 2. Functional management and its features. Textbook). A.N.Antipov and others. Moscow: Rusajns, 2020. 334 p. (In Russ.).
14. Rudenko G.G., Dolzhenkova Yu. V. Remote employment: current trends of transformation. Social and labor research. 2020. No. 41(4). P. 50-56. DOI: 10.34022/2658-3712-2020-41-4-50-56 (In Russ.).
15. Ekonomika i sociologiya truda: teoriya i praktika: uchebnik i praktikum dlya vuzov (Economics and Sociology of Labor: theory and practice: textbook and workshop for universities). (2020). Pod red. Maslovoj V.M., Polevoj M.V. 2-e izd., pererab. i dop. Moscow: Izdatel'stvo YUrajt. 493 p. Tema 2, pp. 48-105. (In Russ.).
16. McKibbin, Warwick J., Roshen F. The Global Macroeconomic Impacts of COVID-19: Seven Scenarios. CAMA Working Paper. 2020. No. 19. Accessed 29.09.2020. URL: https://papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID3547729_code1532085.pdf?abstracti d=3547729&mirid=1&type=2 DOI: 10.2139/ssrn.3547729
Article
Received: 30.03.2021
Accepted: 31.05.2021
Citation Formats
Other cite formats:
APA
Odegov, Y. G., & Razinov, A. E. (2021). The COVID-19 Pandemic and its impact on the global labour market: an analysis of emerging trends (part two). Living Standards of the Population in the Regions of Russia, 17(2), 216-227. https://doi.org/10.19181/lsprr.2021.17.2.5
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ECONOMIC RESEARCH
