Reshetnikov announced a reduction in the number of vacancies in Russia by 30%

The number of vacancies on leading job search sites has decreased by 30% from peak values, indicating a significant cooling of the labor market. Maxim Reshetnikov, Minister of Economic Development, told Izvestia on June 19 on the sidelines of the St. Petersburg International Economic Forum (SPIEF-2025).

"If we look at the statistics, the economy is cooling down, and noticeably. But the problem with our statistics is that it's a rearview mirror. We have salary data for March so far, we have production data for April," Reshetnikov said.

According to the latest data, growth continues only in a limited number of sectors: the military-industrial complex, construction (where there is a seasonal factor) and the production of mineral fertilizers.

According to Reshetnikov, the dynamics of consumer demand is of particular concern. According to Sberindex, based on online sales register data, the indicator in real terms is about 2% year-on-year, indicating a significant slowdown.

"The reason is also clear. Our interest rates have increased, and monetary conditions have significantly tightened," the head of the Ministry of Economic Development explained.

"Today our task is to provide people with maximum comfort"

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Earlier on June 19, Reshetnikov told Izvestia about the risks of hypothermia in the economy. He noted that the current situation has become the subject of active discussions between the government's economic unit, the Central Bank and industry departments.