Functioning of the Regional Labor Market in the Context of the COVID-19 Pandemic

Abstract

The global spread of COVID-19 has also affected the labor market. The government's medical and epidemiological measures created the prerequisites for another socio-economic crisis. Since the pandemic is associated with the preservation of the human resource, therefore, its consequences assessment is relevant. This paper explores the special parameters that can characterize trends in the social and labor sphere. The data from the Territorial Body of State Statistics for the Irkutsk Region (Irkutskstat) for the years 2018-2019 and for the 1st half of the 2020 year used as the information base of the study. It was revealed that the regional labor markets reacted adequately to the crisis signals of the spread of the coronavirus. The regional labor market indicators have negative trends and reflect the growing social tension. The study results show the increasing volume of retirement. By way of example, the share of people seeking work and recognized as unemployed have significantly increased for first half of 2020. The declared number of workers who are going to be laid off has almost doubled (by 193 %). This means that the number of unemployed will grow steadily. In these conditions, it is necessary to carry out monthly monitoring of changes in the situation in the regional labor market. The phenomenon of using remote work requires a separate study.