russiaprofile (russiaprofile) wrote in russia_profile,
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russiaprofile
russia_profile

Russia’s Labor Market Faces Challenges in Coping with the Economic Crisis

As the ongoing crisis slowly pervades Russia’s financial centers, Moscow and other big Russian cities are starting to feel the heat from this economic meltdown. Experts expect its impact to be felt on the job market in the coming months, but the restrictions of the Russian labor legislation mean that there will be few major layoffs. Instead, income levels will fall. As such, institutional and legal changes are needed to allow employers more leverage and flexibility in adjusting to a tougher economic environment.
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