Stocks in play: Alaska Energy Metals Corp

view original post

Reuters

Soaring wages, record-low unemployment underscore Russia’s labour squeeze

Moscow’s heavy spending on defence and security as it wages war in Ukraine has helped Russia’s economy rebound from a 2022 slump, but economists say the growth relies on state-funded arms and ammunition production, masking problems that hamper any improvement in Russians’ living standards. “Our economy is definitely and severely overheated,” German Gref, CEO of dominant lender Sberbank said in the upper house of parliament on Tuesday. A central bank survey of Russian companies showed production capacity at a historically elevated level of 81% in the first quarter.