Unemployment in Russia

Russia Unemployment | Economic News & Forecasts

Russia - Unemployment

Growth slowed significantly in Q1, on weaker domestic demand due to the fallout from the war in Ukraine. Turning to Q2, the economy is heading into a deep recession as Russia’s military campaign in Ukraine’s Donbas region drags on and sanctions bite. Economic activity contracted in April, seemingly driven by a plunge in private spending as retail sales tumbled. Similarly, investment activity should be feeling the impact of sanctions and capital outflows. Meanwhile, although soaring energy prices have helped the external sector hold up relatively well so far, the EU’s decision in late May to largely ban Russian oil imports by end-2022 will hit the sector hard in the coming months. Meanwhile, to prop up the ailing economy, the government announced double digit hikes to pensions and the minimum wage, and slashed interest rate again in May. However, this will be insufficient to prevent a recession.

Russia - Unemployment Data

2015   2016   2017   2018   2019  
Unemployment Rate5.6  5.5  5.2  4.8  4.6  

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Russia Unemployment Chart

Russia Unemployment
Note: Unemployment in % of active population.
Source: Russian Federal State Statistics Service (Rosstat).

Russia Facts

Value Change Date
Bond Yield6.230.13 %Dec 30
Exchange Rate62.03-0.12 %Dec 30

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