FinExpertiza: the number of people employed in the informal sector is decreasing in Russia
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The number of Russians working in companies without the status of a legal entity (informal sector) in the second quarter of 2022 decreased to 13.4 million people (-1.5 million people, or -10% in annual terms). The peak of the sectoral decline in employed Russians occurred in May of this year, when a decline of -1.85 million people was recorded compared to the same period in 2021.
In the review of the FinExpertiza consulting network (Kommersant has it), this situation is explained by the greater resistance of the formal sector (corporate and government organizations) to the crisis. “Small enterprises and micro-businesses, critically dependent on retail demand, cannot afford to keep staff in anticipation of a stabilization of the economic situation,” explained Elena Trubnikova, President of FinExpertiza. She added that in the second quarter, the number of citizens employed in enterprises with the official status of a legal entity increased by 1.79 million people (up to 59.3 million).
Alexander Safonov, a professor at the Financial University, sees the situation as a consequence of households’ refusal from “non-essential” services, which are most often provided by representatives of the informal sector. He mentioned, in particular, repair, construction or additional education services.
In 2022, the number of Russians employed in the informal sector will approached to the figures of 2017, when their number also amounted to 13 million people. From 2011 to 2017, employment in the informal sector grew by an average of 0.3-0.4 million people per year, after which it decreased by more than 1 million people and continued to grow only in 2018, reaching 14.6 million people.
About the shadow sector in Russia – in the material “Kommersant” “It got colder in the shade”.
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