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Construction Industry Faces 25% Labour Shortage

RUSSIA
  • Kommersant report that the construction industry is facing a staff shortage of up to 25% of the required workforce. The situation worsened after the announcement of partial mobilization, the relocation of some specialists abroad, and the return of labour migrants to their homeland, where the demand for labour is also growing. In the next six months, the situation will only worsen, most market participants expect.
  • Hundreds of diplomats and health security experts are gathering in Geneva to grapple with the increasing risk that viruses, bacteria and other pathogens could be used as weapons, Bloomberg report. For the first time in six years, representatives from the US, Russia, China and other countries are gathering to review the treaty, which is seen as lacking the geopolitical and scientific muscle needed to verify whether nations have violated it.
  • President Putin is due to meet his Kazakh counterpart, Kassym-Jomart Tokayev, in Moscow today, while the BRICS+ business forum opens in Moscow. The data docket is light today, with no major data releases scheduled. Looking ahead, retail sales data, unemployment rate data, and S&P manufacturing PMI data all cross later this week.
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