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. Unemployment Rate in Russia averaged 7.50 percent from 1992 until 2019, reaching an all time high of 14.10 percent in February of 1999 and a record low of 4.50 percent in September of 2018.
Unemployment Rate in Russia is expected to be 5.00 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 5.20 in 12 months time. In the long-term, the Russia Unemployment Rate is projected to trend around 5.70 percent in 2020, according to our econometric models.