President Vladimir Putin has raised concerns about a significant increase in ‘hidden unemployment’ in Russia, stating that more than 10,000 workers have been placed on reduced hours or unpaid leave since the beginning of the year. This development underscores the strain on the labor market amid economic challenges, signaling potential long-term effects on workforce stability and economic growth.
Industry analysts suggest that the situation is a direct result of the ongoing economic sanctions and the impact of international isolation on Russia’s ability to maintain full employment. While the government has taken steps to support the workforce through various measures, including subsidies and support for small businesses, the scale of the issue indicates a deeper structural problem within the economy.
Experts warn that the ‘hidden unemployment’ could have far-reaching consequences, including reduced consumer spending, which in turn could further strain the economy. As the Russian government continues to navigate these challenges, the situation remains a critical factor in assessing the nation’s economic resilience in the face of global pressures.