“Never Seen Before”: Russia on the Brink of a Labor Crisis
On April 28, at the Alpha Summit, Central Bank Governor Elvira Nabiullina made a statement rarely heard from a regulator: Russia is facing a labor shortage unprecedented in the country’s modern history. “We have never had a situation like this,” she said, adding that the labor market is now driving the Central Bank’s key decisions on interest rates and monetary policy. For a regulator typically known for measured statements, this was an unmistakable alarm signal.
Numbers That Speak for Themselves

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