Economics

How labor market to be supported during the second wave of CVI in Kazakhstan

Photo: primeresi.com
During the government hour in the Majilis, the Minister of Labor and Social Protection of the Population Birzhan Nurymbetov stated that one of the main challenges in the Kazakhstan labor market will be the pressure from the growing workforce, Kazpravda.kz correspondent reports.

"We made an analysis for 5 years ahead. The annual influx of youth in the labor market will grow to 256 thousand people by 2025; the working-age population is expected to grow to 12.1 million people. The volume of job creation in 2022 will not be sufficient to provide jobs for people of working age. The maximum deficit by 2025 will amount to 87 thousand jobs. Therefore, additional generation of jobs is needed in the coming period," the minister said.

In addition, in his opinion, the re-introduction of quarantine will make adjustments to the labor market.

"This can lead to the release of workers and a decrease in their income. In this connection, we must be ready to take prompt and systemic measures. Therefore, measures will be taken to preserve and create jobs through infrastructure projects, continue the employment roadmap; as part of the program "Enbek" it is planned to increase the volume of subsidized jobs. In the transition to reduced employment, compensation or subsidizing part of the wage at the level of one minimum wage may be introduced. For the unemployed during the quarantine period, it is planned to make recommendations to increase payments during the period of job loss," Birzhan Nurymbetov explained.
Author:
Laura Tusupbekova
11:55, 24 September 2020
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