War losses drive Russia’s record low unemployment
Hello! Welcome to your weekly guide to the Russian economy, written by Alexander Kolyandr and Alexandra Prokopenko and brought to you by The Bell. This week we detail our research showing how Russia’s celebrated low unemployment rate is a direct consequence of the huge numbers of men being killed in its invasion of Ukraine.
Deaths of soldiers drive Russia’s overheating labor market
Since the start of the war, Vladimir Putin has repeatedly flagged record low unemployment as proof of the robust health of Russia’s economy. Even as he drew attention to low growth at a government meeting on April 15, he touted the country’s employment statistics as a bright spot. However, he has been silent on how that has been achieved. The Bell found a direct correlation between falling unemployment and rising numbers of soldiers killed at the front.
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