Severe Labor Shortage in Russia According to Bloomberg

Russia is facing a serious labor shortage and is forced to attract workers from several Asian countries, according to Bloomberg.

The acute shortage of labor in Russia has emerged as a result of demographic crises and the ongoing war related to Ukraine. The publication states that the situation compels Moscow to actively seek workers from abroad, particularly from India, Sri Lanka, and other countries.

According to the agency, by 2030, Russia will need around 11 million new workers. Currently, foreign labor, including workers from South Asian countries, North Korea, and China, is already being involved in the construction, restaurant, and service sectors.