Russia has moved to amend labor laws to make it easier for teenagers as young as 14 years old to get part-time jobs. The country is grappling with a labor squeeze following the mobilization of 300,000 reservists for the unprovoked war in Ukraine.
The ruling party’s legislators submitted the proposal citing a need to increase the nation’s labor supply due to “sanctions pressure from unfriendly countries.”
“A teenager’s income also would be additional financial support for families and help instill a sense of responsibility,” the proposal read.
The proposed law would remove the requirement to get permission from guardians or social services agencies. It would also “reduce the burden on employees” by removing the requirement for them to pay for costly medical exams for minors they wish to hire.
It’s common for other countries to allow teenagers to work part-time. The proposed law would be for the “interests of adolescents and the demands of the modern labor market,” according to Mikhail Kiselyov, Deputy Chairman of the Committee on Youth Policy of the Lower House of Parliament.
Prior to the partial mobilization announced by the country’s leader in September, Russia was already struggling with a shortage of workers. The country’s unemployment rate is near record lows at 3.9%. Economists caution that the lack of labor from the mobilization and the mass exodus that followed will impact Russia’s economic growth.
Information for this briefing was found via Bloomberg, and the sources and companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.