More than half of Russian industrial companies complain about the lack of workers. The reason for the shortage of personnel is the war in Ukraine and mobilization into the army, according to the Italian newspaper Politico.
The newspaper cites data from a survey conducted by Yegor Gaidar’s Russian Institute for Economic Policy. The study shows that 35% of industrial enterprises face a shortage of personnel. According to Politico, this is the biggest crisis in the labor market since Vladimir Putin came to power in Russia.
No hands to work
According to Politico, the lack of labor in the market is a serious crisis and a long-term problem that slows down the Russian economy. It is directly related to military mobilization, as a result of which tens of thousands of people were drafted into the army.
The shortage of workers is mainly related to light industry and engineering positions. As the president of the Gaidar Institute said, the withdrawal of Western chains such as Starbucks and McDonald’s from the Russian market created significant opportunities for local business. Entrepreneurs, however, cannot take advantage of them, because the lack of labor effectively hinders their development.
Russian economy in crisis
The Ministry of Finance of Russia has published a preliminary assessment of the execution of the federal budget for January-April of this year. It turns out that budget revenues amounted to 7.7 trillion rubles. This is 22 percent. less than in January-April 2022.
Revenues from the non-oil and gas sector increased by 5%. up to 5.5 trillion rubles. On the other hand, Russia’s revenues from raw materials have clearly decreased - revenues from oil and gas exports were lower by 52 percent. According to the RIA Novosti agency, this is due to last year’s “high sales”, the fall in prices for Urals oil and the reduction in gas exports. In fact, as Rzeczpospolita writes, this is the result of sanctions imposed against Russia by the West after the attack on Ukraine. Since December last year, there have been restrictions and marginal prices for the purchase of Russian oil, and since February this year, the Kremlin’s gas blackmail attempts on oil products against the EU, as a result of which Gazprom lost the Community market, and exports to Asia turned out to be too low to compensate for the losses. incurred in the European market.
Source: Wprost
I am George Brown, author at Daily News Hack. I mostly cover economy news and I have been doing this for quite some time now. I have a lot of experience in this field and I’m always looking for new opportunities to learn more.
