OREANDA-NEWS The total number of workers under the age of 35 in the Russian labor market decreased by 1.3 million people and reached the lowest values since the early 1990s. This is evidenced by the research of the analytical service of the audit and consulting network FinExpertiza based on Rosstat data, available to TASS.

"The number of employees under the age of 30 decreased by the end of 2022 by 802 thousand people, to a minimum of 14.9% relative to all employed. At the same time, since last year, the consequences of the demographic pit of the 1990s began to be reflected in statistics for older age groups, as a result, the number of employed aged 30-34 years decreased by 524 thousand. As a result, the total number of employees under 35 decreased by 1.3 million. The number of employees in both the "under 30" and "under 35" categories, as well as their shares in the Russian labor market, have reached their lowest values since the early 1990s," the study says.

According to FinExpertiza, the number of employees under the age of 30 decreased most noticeably in the Penza region (-19.5% on average for the year), the Novgorod Region (-16.8%) and Moscow (-15.3%). There were more working youth in the Chukotka Autonomous Okrug (+12.4%), the Arkhangelsk Region (+8.1%), as well as in Karachay-Cherkessia (+7.2%).

"The number of employees aged 25 to 29 years has decreased especially significantly over the past year - by 724 thousand, to 7.2 million. This is an important category of young professionals for the economy, who have already acquired professional experience and at the same time have high labor mobility. Those born during the crisis period of 1993-1997 fell into this age category," the study says.