The Impact of Force Majeure on the Labor Market as a Whole and Youth Employment in Particular
Year: 2024
Type: preprint
Abstract: The relevance of this topic is that force majeure circumstances are an integral part of modern life and have a serious impact on the labor market and youth employment. Addressing the impact of such circumstances is an important step to ensure sustainable development of society and improve the quality of life of young people. The relevance of the study is determined by the need to assess the scale and consequences of unforeseen events for the labor sphere, changes in the labor market as a result of crisis situations and to identify the specifics of youth employment, which will allow us to propose measures to support and stimulate their employment. The purpose of the study: to identify the specifics of the impact of force majeure on the youth labor market in the XXI century. The main objectives were: to study the peculiarities of the impact of force majeure on the labor market in the first quarter of the XXI century, to identify the specifics of the impact of force majeure on youth employment and to determine the typical characteristics of this phenomenon for the Russian Federation. The study allowed us to formulate the following conclusions: force majeure has a serious impact on the youth labor market and the transition of young people from education to work, and this impact has a number of significant differences for young people compared to the main population. The COVID-19 pandemic has led to a deterioration in the position of young people in terms of receiving quality vocational education and an increase in the underutilized labor force. In Russia, the effects of the pandemic were manifested in the expansion of informal and non-standard employment, increased precarization of work and the growth of the self-employed. However, increased loyalty to digitalization of business and remote forms of work can improve the competitiveness of young people in the labor market.
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W4414739258