Journal of Economic and Social Dynamics

Abstract

The global pandemic triggered a global economic recession, resulting in high unemployment and labour market imbalances, which were reflected in changes in macroeconomic indicators in the US, Japan, and Russia. While the timing and scale of job losses and post-pandemic recovery varied significantly across these economies, they also shared some common characteristics. The aim of the work is to analyse macroeconomic indicators of the labour market in the USA, Japan and Russia using the Beveridge curve, which shows changes in unemployment and vacancies during the phases of the economic cycle and the impossibility of a simultaneous reduction in the number of vacancies and job seekers.