Understanding the Labor Market Essay

Submitted By rbholde
Words: 554
Pages: 3

The global economic crisis provided an opportunity to rethink the labor market for young people. In the economic crisis they became the most vulnerable group for dismissal in connection with a little experience and modest professional results. Beginning mass dismissals became a serious personal crisis for some young Russians. Now a lot of them can not expect the high starting salary and the opportunity to find a new job at any time. These are young people aged 18-25 years, who are accustomed to economical upturn, to living and working in a developing country, where most companies have not experienced problems and actively fought for prospective employees, invested in their education. Now they have to adapt to circumstances and to revise its opinion on the chosen specialty, an expected salary and to improve their professional level. For now they must be prepared for fierce competition.

Recently it appeared surplus of specialists of economic, legal profiles. Analysis of the situation on the labor market showed that the greatest decline was observed in following segments: banks / investment consulting, human resource management. It was better, than the average for the market, a situation in the areas of: medicine and pharmaceuticals, sales, insurance and manufacturing. If the past year the company strenuously reduced costs with the help of to fire employees and to reduce wages, then on the market remained the lack of engineers and technicians, because for a long time, these specialties have not been popular with young people. Also the economic crisis balanced the abilities of specialists and their salaries.

As mentioned above, recently, some young professionals were inclined to exaggeration of their abilities and capabilities, and thus they want to receive on higher wages, pretend not to the starting position, and to the key position. In this plan, the crisis sobered up young people a little. Currently, graduating students of institute of higher education should accept the fact that it is necessary to work on the future, and not expect large fees in the present, that you should not neglect the starting positions and internships. But it is necessary to develop…