Russia’s unemployment rate hits historic low of 4.3 pct in August

Russia’s unemployment rate hit a historic low of 4.3 percent in August, down from the previous low of 4.4 percent registered in June, the Russian official statistics service Rosstat said Wednesday.

“According to preliminary results of a sample survey of the workforce, 3.3 million people aged 15 years or older, or 4.3 percent of the workforce, were classified as unemployed in August of 2019, in accordance with the rules of the International Labor Organization,” Rosstat said in a statement.

It added that according to the Russian Federal Service for Labor and Employment, only 0.7 million people were registered as unemployed with the employment service authorities, of which 0.6 million people received unemployment benefits.

Meanwhile, the economically active population aged 15 years or older amounted to 75.7 million people, or 52 percent of the total population last month.

In July, the unemployment rate rose to 4.5 percent, Rosstat data showed.