Russia Unemployment Rate at 8-Month High

Russian jobless rate increased for the fourth consecutive month to 5.3 percent in December of 2014 from 5.2 percent in the previous month, reaching the highest since April.

In August of 2014, the unemployment rate touched a record low 4.8 percent but has been rising since then.

In December, the number of unemployed people increased to 3.974 million from 3.93 million in November. A year earlier, the figure was 4.19 million.

883 thousand people were officially registered as unemployed in December, up from 822 thousand in November but down from 918 thousand a year earlier. 

While nominal wages rose 6.1 percent, real pay fell 4.1 percent year-on-year in December. In the previous month, real wages grew a meager 0.5 percent. 

Russia Unemployment Rate at 8-Month High

Joana Taborda |
1/28/2015 1:24:11 PM