One in five of Russian professionals with higher education and permanent employment are impoverished or low-income. According to the HSE, poverty among professionals, which seemed to be a thing of the past, is now returning, and the crisis may exacerbate it.
Transition to a low-carbon economy remains a priority for major countries including China despite the rises in commodity prices and the highest global inflation. For Russia, as its economy refocuses on Asian markets, the importance of the green transition still holds.
The index, developed by the Bank of Russia on the basis of surveys of enterprises, enables real-time assessment of the Russian economy and its sectors. It displays a high correlation with GDP, coming out in advance of it in terms of the timing of the publication of statistics.
International sanctions have sparked a fundamental transformation in the Russian labour market, which may result in large-scale underutilisation of accrued human capital, notes Rostislav Kapeliushnikov, Corresponding Member of the Russian Academy of Sciences.
The Fed waited too long to tighten the policy in its anti-inflation stand, believing the acceleration of prices to have been temporary. The biggest concern for markets now is whether the Fed could avoid another policy mistake with regards to over hiking interest rates.