Soboleva I.V., Sobolev E.N. EMPLOYEE WELL-BEING IN A LABOR-DEFICIT ECONOMY

The Bulletin of the Institute of Economics of the Russian Academy of Sciences № 5/2025. Economics and Management.

Irina V. Soboleva

Dr. Sci. (Econ.), Chief Researcher, Head of the Center for Human Potential Development, Institute of Economics of the RAS, Moscow, Russia

ORCID: 0000-0002-3049-7789

Eduard N. Sobolev

Dr. Sci. (Econ.), Leading Researcher, Institute of Economics of the RAS, Moscow, Russia

ORCID: 0000-0002-9142-3361

EMPLOYEE WELL-BEING IN A LABOR-DEFICIT ECONOMY

7-26

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Based upon official statistics, independent surveys, and the latest rounds of the Rosstat Comprehensive Monitoring of Living Conditions, the article examines changes in objective and subjective indicators characterizing various aspects of the well-being of Russian employees under labor shortage exacerbation. It is shown that the changed labor market situation contributed not only to wage increase, but also to greater stability in the socio-economic situation of the working population, as well as to an increase in job satisfaction across the entire range of aspects considered. At the same time, the observed growth in wages was accompanied by an unprecedented increase in working time duration. It is concluded that labor in the Russian economy continues to be relatively cheap, and wage received in many cases hardly guarantee socially acceptable standard of living. The situation generates a shift in work values towards remuneration to the detriment of non-monetary aspects characterizing the quality of working life.

Keywords: labor shortage, employee well-being, job satisfaction, wages, non-monetary indicators of well-being.

JEL: J28, J31, I31

EDN: VUAMOV

DOI: https://doi.org/10.52180/2073-6487_2025_5_7_26

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Manuscript submission date: 15.07.2025

Manuscript acceptance date: 13.10.2025

For citation:

Soboleva I.V., Sobolev E.N. Employee well-being in a labor-deficit economy // Vestnik Instituta Ekonomiki Rossiyskoy Akademii Nauk. 2025. № 5. Pp. 7-26. (In Russ.). https://doi.org/10.52180/2073-6487_2025_5_7_26 EDN: VUAMOV

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