HSE: Number of employed people under 40 to slump by 25% by 2030

MOSCOW, Sep 8 (PRIME) -- The number of employed people under 40 will slump 25% from 2015 to 2030 with the overall number of the employed declining by 8% or 6 million people, Director of the Employment Research Center at the Higher School of Economics Vladimir Gimpelson told reporters on Friday.

“It looks like a major shock to the economy, and it is not obvious how to react… A loss of 8.5 million people of the most efficient age, as compared with 2015, is a serious problem,” he said.

The Federal State Statistics Service said that Russia’s unemployment remained flat on the month at 5.1% of the labor force, or 3.9 million people, in July. The number of unemployed people registered with employment services amounted to 800,000, including 700,000 who received unemployment benefits, and the number of economically active people stood at 76.4 million, or 52% of the population.

“In the past 15 years, the number of employed people rose and employment doubled, whereas in the next 15 years the trend will reverse. If we translate the Federal State Statistics Service’s forecasts into figures, we can see that the overall employment will contract about 8%, or by about 6 million people, until 2030,” Gimpelson said.

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