Russia Unemployment Rate Down to 11-Year Low

Russian jobless rate fell to 4.9 percent in May of 2014, the lowest rate since January of 1993. Unemployment decreased for the third straight month from 5.3 percent in April. A year earlier, unemployment reached 5.2 percent of the workforce.

From April to May, the number of unemployed people decreased to 3.7 million from 3.98 million. In May of 2013, 3.9 million people were unemployed.

There were 905 thousand people officially registered as unemployed in May, 88 thousand less than in the previous month. In April, the number fell by 52 thousand. 

Average wages rose 13 percent year-on-year to 33280 roubles in May, following a 10.8 percent increase in the previous month. Meanwhile, real disposable income grew 5.8 percent.

Russia Unemployment Rate Down to 11-Year Low

Joana Taborda |
6/20/2014 1:47:36 PM