Analysis of labor resources and employment levels in the Russian Federation

Introduction. The relevance of studying the labor force and employment level lies in the possibilities for economic growth and development of effective strategies and policies. The aging of the population, the decline in the birth rate, and migration processes have a significant impact on the state of the workforce. Materials and methods. The research materials consisted of data from periodicals focused on labor resources and employment in Russia, as well as statistical reporting materials from the Russian Federation and its constituent subjects. Abstract, logical, monographic, computational-constructive, and comparative analyses, along with statistical methods, were employed in the research. Results. Over the last decade, Russia experienced a decline in the total volume of labor resources, while the population employment rate increased. A positive trend is that the proportion of young people in the workforce is growing; however, the proportion of young people among the unemployed is also increasing, which hurts socio-economic processes, the demographic situation, and the country’s economic growth. Conclusion. Decrease in the working-age population hurts the country’s economy. However, increased number of people younger than working age gives hope for replenishing the workforce in the future. The positive trend is employment growth which has a positive impact on the state’s economic development. However, there are also negative aspects: a significant proportion of the unemployed in Russia are young people; this is a key factor slowing down the country’s economic growth.