To the list of articles03 march 2015
Challenge of unemployment growth in Belarus: Time to speak plainly
Belarusian labor market is facing challenges that call for adequate and fast reaction from the economic authorities. First, employment contraction that started in the second quarter of 2011, accelerated because of the recession. Second, employment in Belarus is falling when economic crisis in Russia deepens, thus, the demand for labor in that country is falling. In addition, wage gap between Belarus and Russia narrowed significantly, reducing incentives for labor migration. As a result, risks of loosing a job are growing, while opportunities to find it are reducing. For the first time in 15–17 yearsm Belarus may face unemployment growth above the "natural" level for its economy of 5–6%.