Posted 12/24/2023, 9:11:00 AM
Russia Faces Deepening Labor Crisis as Workers Flee, Exacerbating Economic Woes
- Russia facing acute worker shortage of around 4.8 million in 2023, will persist in 2024
- Hundreds of thousands of Russians left after Ukraine invasion, worsening labor crunch
- Shortages especially acute for drivers, shop workers, manufacturing and construction sectors
- Companies raising wages trying to attract employees amid labor shortages
- Poor demographics and migration of population contributing to persistent labor shortages