The changes in the Russian labour market caused by the corona crisis have been largely temporary, but some of them may take hold and become the ‘new normal’. Sustained changes in the labour market will also affect inflation in the Russian economy.
Inequality remains a sore point in socio-economic development, but society's key demands for justice have more to do with inequalities of opportunity such as equality before the law and equal access to healthcare and education, than with the elimination of income inequality.
Changes in private and social life caused by the pandemic have reignited scientific interest in gender inequality in the labour market. Russian economy has adapted to the crisis mainly through price adjustment, and this means the gender pay gap is likely to grow.
Digitalisation is changing the payment market and consumer behaviour in many countries. This raises the question of whether it would be expedient to introduce an additional form of money that would meet the requirements of the digital age: a central bank digital currency.
During a crisis, real-time data is particularly important: the economic situation requires prompt governmental and regulatory decisions. Industry-specific financial flow monitoring developed by the Bank of Russia allows analysis of business activity on a daily basis.