Foreign Affairs
Related: About this forumRussian Ruble Collapse Damaging Workforce - 5 Million Shortage of Workers as Migrants Stay at Home - Joe Blogs
Elvira Nabiullina, the Governor of the Russian Central Bank, recently warned that Russia is dangerously short of labour and this was also confirmed in a recent Research Paper produced by the Institute of Economics at the Russian Academy of Science. The RUSSIAN Economy has started to COLLAPSE as the impact of the Sanctions hit home. Russia desperately needs to increase its GDP but in order to do this Russian Businesses need to EXPAND. In this video I provide more details of the recent findings, review the latest employment statistics and demographics and discuss the problems that Russia is now facing.
Chapters:
0:00 Intro
3:38 RUSSIAN WORKFORCE
4:46 RESEARCH PAPER
7:47 UNEMPLOYMENT RATE
9:24 POPULATION
10:56 RETIREMENT AGE
13:17 WAGE GROWTH
14:25 INFLATION
16:13 RUBLE
18:26 SUMMARY & CONCLUSION
getagrip_already
(14,764 posts)Come to Ruzzia. Be sent to Ukraine. Die futile, meaningless death with no training, no weaponry, no cover, and no commander.
We promise huge sign on bonus, excellent pay, great Healthcare, and great death benefits for the unfortunate. We won't actually deliver any of that, but you will be dead so who cares!
Free bottle of vodka at signing! (We have lots of vodka, you will get that!).
keithbvadu2
(36,823 posts)Warpy
(111,270 posts)He's so incredibly, tragically wrong about wages versus inflation, among other things.
Joe, try to listen: wages are a lagging indicator, which means they don't go up until inflation has already occurred. Inflation in Russia has come from the declining exchange rate for the ruble making anything made outside Russia, from ball bearings to basic foodstuffs, more expensive across the board. It can also be argued that the 16% interest rate has a lot more to do with inflationthan a rise in wages that is lagging considerably behind the inflation rate does. /rant
Also, the labor shortage in Russia is very specific. Most of the people who fled Russia and didn't go back (yes, some did) were older and trained in various professions, exactly the ones cited as experiencing the worst shortages. Guest workers are most often uneducated and relatively unskilled. Most emigres have found jobs and opened businesses in their guest countries, putting down roots. Even if Putin does us all a favor and flies out of a window tomorrow, they are unlikely to go back.
If you want the real scoop on what a clusterfuck Russia is facing, the vlogs that focus on the economy at "Inside Russia" are much better than this guy. Konstantin S. was trained as an economist in Russia, postgrad at U. of Maine. He posts from Tashkent and knows where to find information that is now illegal to publish in Russia because Putin is too fragile to take bad news.
(Funniest thing I've read in ages is Putin's fantasy that Russian women are going to go to work doing all the jobs men used to do while producing and raising eight to ten children)
BigmanPigman
(51,608 posts)rates are hurting the country? They had their second highest Covid rate about a month ago. Is Covid effecting the work force and economy?
https://www.worldometers.info/coronavirus/country/russia/
Warpy
(111,270 posts)Covid seems to be the gift that keeps on giving everywhere, I've been watching rates rise in parts of the US, although not so much where I am. Their vax was less effective than ours, so I wouldn't be surprised if their morbidity/mortality was higher..
BigmanPigman
(51,608 posts)isn't focusing on their citizens' health at this time, or any time, really.