Russia Unemployment Rate Down to 5.4% in June

Russian jobless rate decreased for the third consecutive month to 5.4 percent in June from 5.6 percent in May. It is the lowest value since December of 2014 and below market expectations.

The number of unemployed people decreased to 4.1 million in June from 4.29 million in the previous month. A year earlier, the figure was 3.7 million.

The number of economically active people decreased to 76.5 million (52 percent of population) in June from 77 million (53 percent) in May. Compared to June of 2014 the figure increased by 0.9 million.

Nominal wages rose 7.0 percent year-on-year to an average RUB 35930 (7.2 percent in May) and real pay fell 7.2 percent after dropping by 7.4 percent in the previous month. Real disposable income shrank 3.5 percent (-6.5 percent in May).

The decline was not expected, taking into account the current economic situation, and was likely due to increase in demand for seasonal agricultural and construction jobs. 

Russia Unemployment Rate Down to 5.4% in June

Yekaterina Guchshina |
7/17/2015 6:37:54 PM