Employment Outlook: Russia

Employment Outlook , Europe Nov 24, 2019 No Comments

As Russia’s economy grows, the country faces a shrinking workforce and talent shortage, among other issues.

By Mary Anne Thompson, founder and president, GoinGlobal, Inc.

Russia’s economic forecast looks positive for the next three years, and employment opportunities are expected to keep rising. Its unemployment rate is also one of the world’s lowest. There are real issues facing Russia, however: its poverty rate is a high 22%; income inequality has worsened in recent years; the informal job market is high and continues to rise; job creation by middle and large companies in the formal sector has slowed; and the country faces a shrinking workforce, as young people leave the country to find work elsewhere.

A recent poll found that nearly one-third of respondents aged 18 to 24 living in major urban areas are interested in leaving Russia because of a lack of educational opportunities and high-paying jobs. The country’s finance ministry predicts a 4% decline in the workforce by 2035. This decline is creating skills shortages everywhere, but especially in technology.

According to the recruiting firm Antal, these are the top ten areas demanding workers:

  1. ICT
  2. Administrative staff
  3. Production and engineering activities
  4. Human resources
  5. Sales and business development positions
  6. Supply chain management
  7. Marketing, PR and digital communications services
  8. Legal affairs
  9. Finance and accounting
  10. Senior business management roles

These are the most demanded skills today in the country, according to Hays:

  • Blockchain developers
  • Security engineers
  • Sales and product managers
  • Procurement specialists with experience in e-commerce
  • Investor relations managers

Some of the most demanded soft skills are intuition, new expertise and emotional intelligence.

Information on the employment outlook for more countries can be found by logging into your GoinGlobal account, as long as your institution has a GoinGlobal subscription. Check with your career center to see if your school provides access to GoinGlobal.

Mary Anne Thompson

Mary Anne Thompson founded GoinGlobal, Inc. more than two decades ago as a result of her own experiences job hunting in Sweden. She believes that to uncover the real job opportunities, you need the experience and personal insights of trained local specialists. Mary Anne continues to be an active CEO who shares her strategies and insights directly with clients to help them strategically maximize GoinGlobal’s unique resources.