Unemployment Rate in Moscow Falls to 0.59%

Moscow’s authorities reported a decrease in the unemployment rate from a peak of 2.5% to 0.59%. Kirill Purtov, head of the Department of Economic Policy and Development of Moscow, announced the news at the Moscow Urban Forum on Friday, July 2, Russian media reported.

Purtov reported that there was a significant increase in unemployment in 2020. If the unemployment rate in the pre-crisis period was about 0.39%, then at its peak, it rose to 2.5%. Currently, due to the active actions of the Department of Labor and Social Protection, as well as interaction with employers, it was possible to reduce the unemployment rate to 0.59%.

The head of the department noted that at present, despite the fact that the new restrictive measures will make their own adjustments, the situation in the capital is improving and the economy continues to recover. Experts, according to Purtov, continue to monitor the situation and are likely to be able to find additional response measures.

Kirill Purtov also noted that, among other things, health resort organizations are also the most affected industries. Compared to 2020, the turnover for the first half of the year amounted to over 15 billion rubles, and the growth was 20%.

The head of the department stressed that this industry is also recovering and that it is in great demand among Muscovites.