Unemployment Rate in Russia Hits Lowest Since August 2019

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According to Rosstat statistics, unemployment in Russia decreased to 4.4 percent in August, down from 4.5 percent in July, and reached its lowest level since August 2019, RIA reported.

In June 2019, Russia’s unemployment rate was 4.4 percent; however, in August of the same year, it decreased to a historic low of 4.3 percent.

“In August 2021, 3.4 million people aged 15 and over were classified as unemployed in accordance with the methodology of the International Labor Organization. The unemployment rate for the population aged 15 and over in August 2021 was 4.4%, not excluding seasonal factors,” says the report of the Federal State Statistics Service, published on Friday.

In April 2020, unemployment in the Russian Federation increased sharply against the backdrop of the coronavirus epidemic, rising to 5.8 percent from 4.7 percent in March. The highest rate of unemployment was 6.4 percent in August.

According to Rosstat, using Rostrud statistics, 1.2 million jobless individuals were registered with the employment service by the end of August 2021, with 1 million people having the status of unemployed, including 0.7 million receiving unemployment benefits.

When analyzing employment and unemployment, Rosstat uses the International Labor Organization (ILO) methodology, which states that the jobless are individuals who, at the time of this research, required a job, were seeking one, and were ready to start one.