Post #1303 by Timer321 on the Macroeconomic Trends and Risks board

Personal Finance Topics / Macroeconomic Trends and Risks

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This may bear repeating about Russia. The global economy is falling apart, China as well. We are not far behind.

https://finance.yahoo.com/news/wage-arrears-mount-...

Wage arrears mount in Russia as hidden unemployment hits record highs

Against the backdrop of a worsening economic situation, wage arrears and hidden unemployment rates are soaring at Russian companies.

Source: The Moscow Times reports this with reference to data from the Federation of Independent Trade Unions of Russia (FNPR)

Details: As trade union monitoring reports, wage arrears rose by 25% in July, reaching 1.7 billion roubles (US$21 million), while the number of workers at risk of dismissal increased 1.5 times compared with last year. The number of workplaces in downtime also grew by one third.

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