Gender pay gap: Features of the current situation

The study focuses on the unique situation that has developed in the Russian labor market as a result of record low unemployment and record high labor shortages. Its gender dimension revealed, behind the economic context of peak labor market indicators, the social problems they generate. Accordingly, the aim of our work is to examine the negative gender related consequences of the current economic processes in the labor market. First of all, these is the growth of economic gender inequality, driven by the fact that labor shortages have been addressed through wage increases – not equally for everyone, but with a strong bias in favor of blue collar workers, i.e., those in industries and occupations with predominantly male employment. This has led to an increase in the gender pay gap to its highest level in the previous 11 years. The article highlights the negative social, economic, and demographic consequences of a high level of gender pay disparity. The novelty of the obtained results in this research area lies in shifting the focus from analyzing the causes of the gender pay gap to its dynamics, identifying as the main factor behind its growth the unique situation in the Russian labor market. This situation represents a structural imbalance between labor demand and supply, partly due to the popularity among the workforce of trendy, highly paid professions rather than those that meet the real needs of the economy.