Russia is facing an extremely serious labor crisis due to emigration, mobilization and an aging population, which will hit the economy and increase inflation, according to an assessment by the British Ministry of Defense on Sunday morning.

What British experts say:

• “Russia is almost certainly facing its worst labor crisis in decades.
• Russia’s central bank surveyed 14,000 employers and found that the number of job vacancies is at its lowest level since 1998.
• Over the past three years, due to the impact of COVID-19 and the war in Ukraine, the population of Russia has decreased by two million people (more than estimated).
• Almost 1.3 million Russians left their country in 2022, including many young and well-educated people working in high-value sectors.
• The Russian Ministry of Communications indicated that approximately 10% (100,000) of IT workers left the country in 2022 and never returned.
• Military mobilization, record high emigration, aging and shrinking populations are limiting the labor supply.
• This is likely to harm the growth of the Russian economy and risks fueling inflation.”