Labor participation has reached 61.5%, while unemployment remains at a historic low of 2.2%, Deputy Prime Minister Tatyana Golikova has said.
Russia’s labor market remains strong, with unemployment at historic lows and labor force participation at a record high, Deputy Prime Minister Tatyana Golikova said during a session at the St. Petersburg International Economic Forum. Petersburg (SPIEF).
Speaking on Friday at a panel titled ‘Labor Market 2.0: AI, Skills Changes and New Professions’, Golikova said the share of working Russians had risen to a record 61.5%, while the unemployment rate remained at just 2.2%.
The Deputy Prime Minister warned, however, of the major structural challenges facing the sector despite the strong headline figures.
Golikova also noted that Russia ranks only 37th in the world in job creation despite being among the world leaders in training skilled workers. He added that the adoption of artificial intelligence (AI) and robotic systems could increase labor productivity by 21% by 2032.
The deputy minister said that AI should be seen as a means of improving efficiency rather than replacing people. He said equipping workers with the necessary skills to use emerging technologies has become a major priority.
“AI, first of all, is a tool to increase productivity. That is why developing workers with the necessary skills becomes a priority, especially for our higher education system,” He said.
Golikova said AI is modifying the jobs people do rather than eliminating entire professions. He added that the labor demand could decrease by about 10% if about 30% of the technology’s potential is reached. The changes could have a greater impact on the retail, logistics, and warehouse sectors, the deputy prime minister said.
The 29th annual SPIEF conference, often referred to as the ‘Russian Davos’, takes place from June 3 to 6, welcoming nearly 20,000 businessmen, politicians, and dignitaries from over 100 nations.
You can share this story on social networks:
Follow RT on
