Russia May Jobless Rate Lowest Since 1992



The unemployment rate in Russia went down to 4.7 percent in May of 2018 from 5.2 percent in the corresponding month of the previous year, below market expectations of 4.9 percent. It was the lowest jobless rate since at least October 1992. In April, the jobless rate was higher at 4.9 percent.

The number of unemployed people decreased by 337 thousand to 3.608 million in May 2018 from 3.945 million in the same month of the previous year. Compared to April, the number of unemployed fell by 104 thousand.

Real wages grew 7.3 percent year-on-year in May of 2018, easing from a downwardly revised 7.6 percent rise in the previous month and missing market expectations of 7.5 percent. Average nominal wages went up 9.9 percent to RUB 43,815 while annual inflation rate stood at 2.4 percent, close to a record low of 2.2 percent in February and January. On the other hand, real disposable income increased by only 0.3 percent in May, following a 5.7 percent growth in the preceding month.

Russia May Jobless Rate Lowest Since 1992


Federal State Statistics Service | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
6/20/2018 1:48:30 PM