Russia Jobless Rate at 5-Month Low of 4.7%

Russia unemployment rate fell to 4.7 percent in March of 2019 from 4.9 percent in the previous month, below market expectations of 4.9 percent and compared with last year’s 5 percent. It is the lowest jobless rate since October of 2018.

The number of unemployed fell by 137 thousand to 3.518 million in March from 3.655 million in the previous month. Compared with the previous year, unemployment fell by 290 thousand from 3.808 million.

Meanwhile, registered unemployment rose by 2 thousand to 0.818 million from 0.798 million a month earlier. Year-on-year, that number advanced by 3.4 thousand from 0.784 million.

Russia’s real wages showed no growth from the previous year in March, the same as in the previous month and compared with market expectations of a 0.5 percent rise. Average nominal wages jumped 5.2 percent to RUB 45,000 while annual inflation rate advanced to 5.3 percent, the highest since December of 2016.

Russia Jobless Rate at 5-Month Low of 4.7%

Federal State Statistics Service | Agna Gabriel |
4/18/2019 1:18:57 PM