Reshetnikov pointed to the cooling of the labor market in Russia

The Russian labor market has begun to show signs of cooling down. In the current period, there has been a normalization of the ratio of the number of open vacancies and available personnel in various sectors of the economy. This was announced on June 30 by the Minister of Economic Development of the Russian Federation Maxim Reshetnikov.

"In general, according to the trend, we see that the labor market is, let's say, cooling down," Reshetnikov said in an interview with the Vesti news agency.

He clarified that there is already a surplus of labor resources in certain sectors. First of all, this applies to areas that are most sensitive to the cooling of the economy, such as the production of investment goods and mechanical engineering.

The minister explained that in these areas there is a transition to a four-day working week and incomplete capacity utilization. Reshetnikov also stressed that the current processes are elements of the structural restructuring of the country's economy. Individual enterprises, including deep-lying mines with high cost of extraction of natural resources, are experiencing problems with maintaining the current operating mode.

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On the same day, Reshetnikov noted that the unemployment rate in Russia — 2.2% — is undoubtedly extremely low. The available indicators, as the minister explained, are evidence that there is currently a shortage of labor in the economy in the country, which must be addressed.