Development of the Youth Labor Market in the Russian and Belarusian Union States in the Context of Geopolitical Challenges

Aim. To analyze the labor market of young people in the Russian and Belarusian Union States and identify trends that affect the development of the labor market under the conditions of geopolitical challenges. Tasks. Analyse the evolution of the main labour market indicators: number of workers, demand and supply of work, number of employees by age. To identify the potential and risks of developing the youth labor market in the Russian and Belarusian Union States, as well as to identify opportunities for cooperation in the context of geopolitical challenges. Methods . In the process of research, the tasks were solved using general science methods — synthesis, analysis, generalization. Based on a comprehensive and comparative analysis of the development of the labor market in the Russian Federation and Belarus, an assessment of the potential and risks of the labor market for young people was carried out. Results. Analysis of labor market indicators in the Russian and Belarusian Union States showed that, despite the decrease in youth unemployment, there is a shortage of workers in the labor market due to the annual decline in the number of employees in the economy of the 15–29 years old age group. This situation presents risks to the sustainable development of the economy. The potential of the youth labor market, expressed in the availability of digital competences and professional skills that are formed during the training phase in higher and secondary vocational institutions, has been identified. It was determined that an important element of the development of the youth labor market is a mechanism of cooperation, which allows to eliminate negative trends in the youth labor market in Russia and Belarus. Conclusions. Considering the trends in the youth labor market in the Russian and Belarusian States, it is necessary to strengthen regulation of the social-labor relations segment with young people, ensuring self-realization and employment of young professionals, The demand for their skills at the beginning of working life by involving young people in various national projects that contribute to the realization of youth’s work potential.