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Barriers of modernizing and innovative developing the social and labour sphere of the Russian economy have been revealed and conceptual principles of state management of the development of economic relations in Russia in the framework of the new economic reality as well as the strategy of resetting the Russian economy on the innovative way of development and increasing business activity have been formulated. Local labour markets have been defined as an economic category. Institutional characteristics of the labour market have been presented, and the process of institualizing the development of economic relations has been explained.
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Pk. Katabay (2018) studied this question.
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