Rosstat: Unemployment rate in Russia fell to the lowest level in history with 2.9%
MOSCOW, November 29 – RIA Novosti. The unemployment rate in Russia reached its lowest level in history, reaching 2.9 percent. report Rosstat.
“In October, 2.2 million people aged 15 and over were classified as unemployed (according to the International Labor Organization methodology). Unemployment rate in the population aged 15 and over <...> The document states that this figure is 2.9 percent (excluding seasonal factors).
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It was announced that this figure was around three percent in the last three months. Moreover, while the total number of unemployed people was 2 million 315 million in September, this figure became 2 million 224 million in October.
As of the end of October, 0.5 million citizens were registered with the employment service, as reported by Rosstat based on data from Rostrud. Of these, 0.4 million people were unemployed and 0.3 million of them were receiving unemployment benefits.
Rosstat uses the methodology of the International Labor Organization; Accordingly, those who simultaneously need a job, are looking for a job and are ready to start working during employment are considered unemployed.
According to the agency, the number of workers aged 15 and over in Russia reached 76.3 million in October.
In September, the Ministry of Economic Development estimated that the average annual unemployment in the country in the 2023-2026 period would be 3.1 percent. As the Ministry explains, this situation creates risks associated with tensions in the labor market, which need to be mitigated by increasing productivity and ensuring sufficient flexibility of this market.
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