Russia’s unemployment rate falls back to historic low of 4.3% in September from corona peak of 6.4% in August 2020

Russia’s unemployment rate falls back to historic low of 4.3% in September from corona peak of 6.4% in August 2020

Russia's economy has bounced back and unemployment numbers have been falling steadily to 4.3% in September, and are back to the historic low of 4.3% set in August 2019. / bne IntelliNews

By bne IntelliNews November 2, 2021

Russia's unemployment rate decreased to 4.3% in September 2021 from 4.4% in the previous month and below market forecasts of 4.5%.

Unemployment rates peaked at 6.4% in August 2020 during the worst of the coronacrisis, but are now back to their historic low set in August 2019 of 4.3%.

September rate was the lowest rate since August 2019, as the number of unemployed people fell by 84,000 from a month earlier to 3.272mn and those officially registered as unemployed declined by 114,000 to 1.112mn.

According to RosStat statistics, unemployment in Russia decreased to 4.4% in August, down from 4.5% in July.

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