Unemployment in Russia
Russia - UnemploymentGrowth 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
5 years of economic forecasts for more than 30 economic indicators.
Russia Unemployment Chart
Source: Russian Federal State Statistics Service (Rosstat).
|Bond Yield||6.23||0.13 %||Dec 30|
|Exchange Rate||62.03||-0.12 %||Dec 30|
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January 13, 2023
Inflation came in at 11.9% in December, which was down from November’s 12.0%.
December 31, 2022
The S&P Global Russia Services PMI Business Activity Index fell to 45.9 in December from November's 48.3.
December 23, 2022
Industrial output decreased 1.8% compared to the same month a year earlier in November, which was above October's 2.6% decrease.
December 14, 2022
According to a second estimate, GDP contracted 3.7% year on year in the third quarter, marking an upward revision from the preliminary data that pointed to a 4.0% downturn.
December 9, 2022
Inflation dropped to 12.0% in November from October’s 12.6%.