Estimating Total Labor Input for Supporting Informed Economic Policy Decisions

Abstract

— The article provides the methodology for assessing the total labor input in the economy on the basis of a symmetric input–output table. The main directions of its use in modern economics are outlined taking into account the surveyed world experience. The study presents an analysis of estimates of total labor costs in the Russian economy calculated industry-by-industry.

Estimation of Total Labor Costs in the Russian Economy Taking Into Account the Qualification Level of Employees

“…As in [ 2 ], in this study, jobs and employment do not differ, which is not entirely correct, but under the assumption of a constant intensity of use of jobs, this simplification does not distort the essence of the calculations.…”

“…Estimation of total labor costs in the Russian economy, taking into account the qualification level of workers. As noted above and demonstrated in [ 2 ], industries have different potential for job creation 5 in economics. The size and depth of the recall 6 , which arises in connection with the movement of jobs in the economy, is a critical issue in assessing the impact of economic policies on the labor market.…”

“…A tool for analyzing the impact of economic policy on the employment sector and the labor market that can answer the above questions are matrices of coefficients of total labor costs (see [ 2 ]). On the basis of Russian data, the difference in industries was demonstrated both in the level of labor intensity and in the ability to produce jobs in related industries.…”

“… 4 A detailed methodology for assessing the total cost of labor, as well as the main directions of using these estimates are described in [ 2 ]. …”

Study Of The Mechanism Of Increasing Productivity Of Multi-Industry System

“…Indeed, according to this theory, price is the monetary expression of value, and value reflects the socially necessary costs of labor. In the Leontiev model, this category appears in the form of coefficients of total labor costs (Edinak, 2020).…”