By the third quarter of 2000, he said, those companies shell-shocked by the crisis will slowly come back to the market, fueling growth. The biggest decline, in his judgment, was in sales and marketing - an area where finding a job has become exceedingly difficult. St. Petersburg and neighboring Leningrad Oblast are production-based economies and local factories are still turning out needed products, Igle said. At the same time, the arrival of new plants like Philip Morris and Ford have kept the local job market moving ahead. Kelly Service's three largest clients are Ford, Philip Morris and Wrigley.
Russian economists point to the positive influence of the crisis on the economy.
Devaluation allowed local producers to increase their production levels as expensive imports were squeezed out. And, Igle said, this increased local production resulted in a huge demand for temporary production-line workers. The temporary job market for professionals and production workers, Igle said, has also benefited from the crisis. Temporary services have recently become a mainstay for local companies. It has increased our revenues and at the same time given companies an alternative to hiring and firing in an unstable economy.