JRL NEWSWATCH: “Russian industrial output growth slows as unemployment drops to record low” – Reuters

“Russia’s industrial output growth slowed in October as the unemployment rate dropped to a record low 2.9%, [according to] federal statistics … [D]eepening labour shortages show[] signs of cooling Moscow’s military production capacity. Kremlin aide Maxim Oreshkin … sought to portray low unemployment as evidence of … economic prosperity, but … Putin and his economy ministry have acknowledged Russia … fac[es] a staffing shortage, particularly of skilled labour. The central bank estimates … two thirds of companies … fac[e] labour shortages, with the metals, chemicals and machine-building industries feeling the strain most acutely. …”

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