UK Intelligence says Russia experiences biggest labour shortage in decades

Russia is almost certainly facing its worst labour shortage in decades.

Source: UK Defence Intelligence, as reported by European Pravda

Details: The UK Defence Intelligence cites data from a survey of 14,000 employers conducted by the Russian Central Bank, which found that the number of available employees is at its lowest level since 1998.

Russia's population has reportedly decreased by two million more than expected over the past three years due to the impact of COVID-19 and the war in Ukraine.

Up to 1.3 million people left Russia in 2022, including many young and well-educated people who work in high-value industries.

The Russian Ministry of Communications said that about 10% (100,000) of IT workers left the country in 2022 and did not return.

Mobilisation, all-time high emigration, and an ageing and shrinking population are limiting the labour supply.

Quote: "This will likely lead to a reduction in the potential growth of the Russian economy and risks stoking inflation," the report said.

Background: The cancellation of events for Russia's so-called Victory Day (9 May) in a number of regions may indicate a growing sense of threat among the Russian leadership in connection with the latest drone attacks in this country.

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