Russian enterprises report record shortage of workers

The supply of personnel in the first quarter fell to its lowest level in the entire history of observations, while companies’ hiring plans for the second quarter were at a maximum, the Central Bank reports in its monitoring of enterprises. Since 1998, the Central Bank has been monthly surveying approximately 15 thousand companies about their assessments of the current situation and expectations (the April survey took into account the responses of 12.7 thousand).

According to enterprises, in the first quarter the problem of staff shortages worsened, the Central Bank notes. The provision of workers was minus 28.2 points (this is the balance of responses - the difference between the number of those who are provided with and those who experience a shortage of workers). The most acute shortage of personnel is still at manufacturing enterprises producing products for investment and consumer purposes, monitoring showed. Earlier, the Central Bank wrote that “the greatest need for workers has arisen in the areas of IT, manufacturing, as well as in areas with a large share of blue-collar specialties: cargo transportation, construction, agriculture, etc.”

In the second quarter, enterprises in the main sectors of the economy plan to increase the number of employees, the Central Bank reports the results of the survey. The question is where will they get them: there are almost no free hands left in the economy. Unemployment is at historic lows, and labor demand (employment plus vacancies) has caught up with supply (labor force).