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Economics

Putin’s Hopes for Fast Recovery Threatened by Worker Deficit

  • Vacancies for construction, delivery jobs surged in December
  • Putin needs a rapid rebound from pandemic to quell discontent
Almost half of construction companies surveyed said they have increased pay.
Almost half of construction companies surveyed said they have increased pay.Photographer: Andrey Rudakov/Bloomberg
Updated on

Vladimir Putin’s hopes of getting his economy growing again quickly are likely to be dashed by Russia’s shrinking workforce.

Employers, especially in construction, are struggling to find enough people to fill jobs because coronavirus restrictions have halved the number of immigrants. Companies ranging from gold miners to builders say they’ve been forced to push up wages to attract locals.