Russia’s Wartime Labor Crunch to Weigh on Economy for Years

Russia is facing a labor shortage so severe it’s likely to be a drag on the economy for years, as an aging population and the war in Ukraine shrink the available workforce.

President Vladimir Putin has repeatedly heralded Russia’s unemployment rate, which at 2.2% is among the lowest in the world. At the same time, the figure underscores the labor market has little room left to expand, limiting the economy’s capacity to grow.