Russian industrial output growth slows as unemployment drops to record low

Russia's industrial output growth slowed in October as the unemployment rate dropped to a record low 2.9%, federal statistics showed on Wednesday, with deepening labour shortages showing signs of cooling Moscow's military production capacity.

Kremlin aide Maxim Oreshkin last week sought to portray low unemployment as evidence of Russia's economic prosperity, but President Vladimir Putin and his economy ministry have acknowledged Russia is facing a staffing shortage, particularly of skilled labour.