Changes

==Economy==

==Economy==

''See also:'' [[Economy of Russia]] and [[Russian sanctions]]

''See also:'' [[Economy of Russia]] and [[Russian sanctions]]

Russian [[GDP]] nominally rose more than any [[G7]] country in 2023. The average Russian household ended the year with about 18% more money in the [[bank]] than a year earlier. Sberbank, Russia’s largest state-controlled bank, posted a 5.5-fold year-on-year net profit jump to a record high of 1.5 trillion rubles (USD $16.3 billion). The defense industry employs 3.5 million people and many factories have doubled their workforce since the beginning of the [[SMO]]. The economic boom is result of defense [[stimulus]] spending, [[Keynesian economics]], a government [[deficit]]s. Compared to the [[United States]], Russia is a piker in the debt markets. The U.S. gas $35 trillion [[national debt]] and growing), nearly a $1 trillion dollar defense budget, does not produce tanks, failed to produce a functional [[hypersonic missile]], incapable of matching Russia’s output of [[artillery]] shells, and has become largely a service economy.

Russian [[GDP]] nominally rose more than any [[G7]] country in 2023. The average Russian household ended the year with about 18% more money in the [[bank]] than a year earlier. Sberbank, Russia’s largest state-controlled bank, posted a 5.5-fold year-on-year net profit jump to a record high of 1.5 trillion rubles (USD $16.3 billion). The defense industry employs 3.5 million people and many factories have doubled their workforce since the beginning of the [[SMO]]. The economic boom is result of defense [[stimulus]] spending, [[Keynesian economics]], a government [[deficit]]s. Compared to the [[United States]], Russia is a piker in the debt markets. The U.S. gas $35 trillion [[national debt]] and growing), nearly a $1 trillion dollar defense budget, does not produce tanks, failed to produce a functional [[hypersonic missile]], incapable of matching Russia’s output of [[artillery]] shells, and has become largely a service economy.

===Labor force===

===Labor force===

 

The Russian labor force is undergoing tremendous changes. Russia's labor force is largely mismatched to the rapidly changing needs of the Russian economy. Official unemployment has shrunken in recent years to 6.9%, and labor shortages have started to appear in some high-skilled job markets. Nonetheless, pockets of high unemployment remain and many Russian workers are underemployed. Unemployment is highest among women and young people. Following the 1991 collapse of the Soviet Union and the economic dislocation it engendered, the standard of living fell dramatically. However, real disposable incomes have doubled since 1999, and experts estimate that the middle class ranges from one-fifth to one-third of the population.  In 2006, 15.8% of the population lived below the subsistence level, in contrast to 38.1% in 1998.{{fact}}

The Russian labor force is undergoing tremendous changes. Russia's labor force is largely mismatched to the rapidly changing needs of the Russian economy. Official unemployment has shrunken in recent years to 6.9%, and labor shortages have started to appear in some high-skilled job markets. Nonetheless, pockets of high unemployment remain and many Russian workers are underemployed. Unemployment is highest among women and young people. Following the 1991 collapse of the Soviet Union and the economic dislocation it engendered, the standard of living fell dramatically. However, real disposable incomes have doubled since 1999, and experts estimate that the middle class ranges from one-fifth to one-third of the population.  In 2006, 15.8% of the population lived below the subsistence level, in contrast to 38.1% in 1998.{{fact}}