Russia Jobless Rate At 8-Month High Of 5.6% In January

The unemployment rate in Russia increased to 5.6 percent in January of 2017 from 5.3 percent in December and well above market expectations of 5.6 percent. It was the highest jobless rate since May 2016.

The number of unemployed people increased by 185 thousand to 4.288 million. Compared to January of 2016, the number decreased by 140 thousand.    

The number of economically active people decreased by 100 thousand to 75.9 million, representing 52 percent of total population. Compared to January of 2016, the figure increased by 100 thousand. 

Real wages increased 3.1 percent year-on-year, following an upwardly revised 2.8 percent rise in December and beating market expectations of 2.1 percent. It was the biggest increase since April 2014. Nominal wages went up 8.3 percent to RUB 35,650 (at the same pace as in December) and real disposable income jumped 8.1 percent, following a 6.4 percent drop in December.

Russia Jobless Rate At 8-Month High Of 5.6% In January

Federal State Statistics Service | Yekaterina Guchshina |
2/22/2017 11:38:55 AM