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Skilled labor shortage threatens Putin's economic plans
Russia's economy is experiencing turmoil - Putin is struggling, but the problem is getting worse. The focus is on the shortage of skilled workers and the consequences for the economy.
Skilled labor shortage threatens Putin's economic plans
Russia faces economic challenges manifested by problems such as inflation, high war spending and a looming labor shortage. Despite efforts by President Putin to stimulate the economy, the skills shortage remains a persistent problem. Experts like demographer Alexei Rakscha warn that the government's current measures are exacerbating economic problems rather than solving them.
Particularly affected by this dilemma is Russia's dependence on migrant workers for economic and demographic reasons. The recently tightened migration policy following an attack in Moscow led to mass deportations and growing hatred towards Central Asian migrant workers. This course threatens to drive away needed foreign workers, which could deepen economic shortages.
The skills shortage in Russia has already reached serious proportions in 2023, with a shortage of 4.8 million workers. The effects are particularly noticeable in areas such as manufacturing, construction and transport. Despite efforts by the Minister of Labor to improve the situation, the high number of unfilled positions remains a major challenge.
In addition, the existing sanctions against Russia limit President Putin's ability to address the economic problems. Efforts to increase labor productivity are hampered by a lack of technological advances. As Putin pushes to increase labor productivity, it is clear that current strategies do not offer sustainable solutions, especially given Russia's growing labor demands.