2020 | 18(2) | 13-31
Article title

The Financial Crisis in Russia and its Impact on the Labour Market

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This contribution deals with the comprehensive review of the labour market during the latest in a series of financial crises. The article presents the legal background for detailed regulation of norms introduced to combat high inflation growth; economic instability and income stratification of the population as a consequence of the application of new measures and their compliance directly affecting the normal development of the labour market. The contribution aims to analyse the labour market during the latest in a series of economic crises based on the study, analysis and synthesis of the scientific base, current legislation and the practice in its application. In order to achieve the aim and fulfil the set tasks, popular scientific dialectical cognition methods, as well as logical, systemic, historical, comparative-legal and formally legal methods were used in the article. We come to the conclusion that the labour legislation is closely linked to the economic processes that have a direct impact on the level of well-being and social climate in the society. The achievement of the public policy objectives in the area of labour market management depends on significant compliance with financial regulations. The concrete changes that are taking place and which are beginning to take shape on the labour market under the influence of the crisis, are becoming irreversible. They change the most important indicators of the labour market, which play the role of its structure-forming components, such as the engagement and unemployment, labour migration and compensation of employees. Their dynamics determines changes in the general financial standing of the labour market. At the same time, they are important for the overcoming of the crisis.
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