There was an odd commentary by the mayor of Moscow yesterday....openly suggesting that jobs for 200,000 city residents might be on the line.
Did he get the green-light from Putin to suggest this? Hard to say.
Population of the city? 12.6-million (at least, that's what was said in 2021 by the city government).
Did the 200k number reflect reality? Well....you can't make that case. It could well go into the 500,000 range, or just 20,000 range.
Here's the chief problem, if any of this does occur.....on unemployment, you get just enough to cover food. So it wouldn't take more than three months of this massive collapse to change the perceptions of people and create chaos.
Just at the Moscow Airport....where around 17k people worked in 2021.....they've laid off around 40-percent (7k people) in the past four weeks. I would speculate that another cut will come shortly.
Any of this worrying the city government? I think their chief worry is that a mortgage collapse is approaching, Other than printing more Rubles....I'm not sure what else can be done.
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