The article considers the employment sphere of modern Russia in relation to the position of the population on the labor market. We pay special attention to the consequences of low unemployment in the country. We found out that the current state guarantees of support for the unemployed do not allow people be out of work for a long time. And if there are no savings or other sources of income, such guarantees force people to accept any available job offer, including those with unfavorable working conditions. This circumstance proves the fact that among Russians there is a pronounced fear of losing the jobs. On the other hand, the minimum wage does not provide a simple labor reproduction, thereby creating a unique phenomenon in the social sphere, when a man who has a job and a regular income is below the poverty line. As a result, informal employment does not only "pull" people out of the formal sector of the economy, bypassing the unemployment stage, but is increasingly seen as a more profitable form of employment than official hiring. The article concludes that it is impossible to effectively overcome new challenges without solving the rooted problems in the sphere of employment.
Highlights:
1. Studies show that employment in modern Russia is rather stable and reacts weakly to changes in key macroeconomic indicators.
2. ... guarantees of social support for the unemployed do not provide them with the decent life for the period of searching a new job.
3. ... in 2015, more than a quarter of the employed (27%) in Russia were had low wages.
4. More than every tenth worker in Russia lives on the edge of survival on relative basis, this is almost 5 million people in absolute terms.
5. The low unemployment rate in Russia is largely supported by the informal labor market too.
6. From 2001 to 2016 informal employment in Russia increased from 14% to 21%, thus reaching the maximum level for the period under review.
7. ... formal employment provides the employee with more opportunities compared to informal one.
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