NEWSWATCH: “‘No miracles’: labor shortage set to hit Russia’s GDP” – Reuters/Denis Pinchuk, Maria Kiselyova

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“A dearth of young people joining Russia’s workforce because of a low birth rate will shave several percent off potential economic growth in the next five to six years, Economy Minister Maxim Oreshkin said. … the labour shortage made it hard for technology companies, among others, to recruit staff they need …. * * * ‘To a large extent economic growth depends on … the processes of changing people in … middle generations,’ Oreshkin said. * * * A RANEPA survey showed Russia’s labour force, which has risen since 1999, stood at 76.3 million people in July 2017, down by 1 million [from] a year earlier. A decline in immigration and fewer people of retirement age staying in the workforce contributed to the dip ….”

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