Russia's unemployment rose to 6.4 percent in August 2020 from 6.3 percent in the previous month and above market expectations of 6.2 percent. It was the highest jobless rate since March of 2012, as the coronavirus pandemic continued to hit the labor market. The number of unemployed people increased by 77 thousand from a month earlier to 4.808 million and those officially registered as unemployed surged by 333 thousand to 3.644 million.
Unemployment Rate in Russia averaged 7.38 percent from 1992 until 2020, reaching an all time high of 14.10 percent in February of 1999 and a record low of 4.30 percent in August of 2019. This page provides - Russia Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Russia Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Federal State Statistics Service
Unemployment Rate in Russia is expected to be 6.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Russia to stand at 6.00 in 12 months time. In the long-term, the Russia Unemployment Rate is projected to trend around 5.50 percent in 2021 and 5.00 percent in 2022, according to our econometric models.