Lyubov Filin: “Finding a job is more difficult, as companies optimize costs and staffing”

Lyubov Filin: “Finding a job is more difficult, as companies optimize costs and staffing”
Lyubov Filin

According to the Bank of Russia’s April data, the number of vacancies published on HeadHunter fell to its minimum since the beginning of 2022, while the number of active job seekers hit a five-year high. Lyubov Filin, Head of Evidence-Based Regulatory Practice Department at the Gaidar Institute, commenting to RTVI stated that the observed cooling of the labor market is a stable nationwide trend.

“Companies are now more cautious: they open fewer vacancies, and they focus more on optimization rather than growth. In the meantime, more and more people, including experienced professionals, are entering the market in search of work. This results in increased competition, especially in areas such as IT, marketing, finance and other white-collar specialties. Finding a job now is evidently more difficult than it was a year or two ago.

Currently, the market is still overheated on its labor supply. This is especially evident in the regions and highly competitive industries, where companies have suspended recruitment due to difficult economic situation for business, trend towards optimization and staff shortage.

The IT, marketing, media and administrative jobs are the most affected by the cooling. There are 1.5–2 times more resumes per one vacancy than the market average (according to HH data). However, in construction, industry, healthcare and logistics the imbalance is less pronounced, and in some regions, there is even a shortage of staff. This is due to more stable domestic demand and dependence on physical labor, which is less susceptible to automation or downsizing.

Main reasons for this cooling include slowing economic growth, business optimization, currency instability and rising costs for businesses. Companies are cautiously planning hiring, fearing new crisis waves. Additionally, partial refocusing of demand on freelancing and temporary flexible employment also has an effect,” the expert said.

“Right now, it’s really best not to rush into resignation. Many companies have reduced hiring and spend budgets more cautiously, therefore it is more difficult to find a new job and more risky to pass the probationary period. In this situation, keeping a stable job is often smarter than going “nowhere.” Changing jobs is worthwhile only when there is a clear understanding of where to go and confidence that a new company is reliable,” advised Lyubov Filin.

Monday, 02.06.2025