"In the history of modern Russia, there has never been such a shortage of labor as there is now."
Modern.az reports that this was stated by the head of the Central Bank of Russia, Elvira Nabiullina.
"We have never had such a situation, and this affects the overall economic situation, as well as our decisions," said Ms. Nabiullina during her speech at the "Alfa-summit". According to her, if information about the state of the labor market were updated more promptly, it would help the regulator make decisions on monetary policy.
According to "FinExpertiza", the total number of human resources in the economy, consisting of people who are not working but want to work, has decreased from 7 million to 4.4 million in Russia in the last five years. On average, there are 2.6 potential candidates from the human resources for one job offer across the country. The number of employed people increased from 71.7 million in 2021 to 74.4 million in 2025.
As noted by Yelena Trubnikova, president of "FinExpertiza", the decrease in human resources occurs steadily year after year, and there is no sign that this trend will change. This indicates that the existing labor potential is gradually being exhausted.
