Belousov: about 200 thousand Russians may become unemployed

The Russian government provided for expenditures in the budget in advance in order to level the risks of rising unemployment, declared Russian Prime Minister Mikhail Mishustin at a government meeting. According to Deputy Prime Minister Andrey Belousov, in the second half of 2022, about 200 thousand Russians are at risk of being left without work.

At a meeting of the Presidium of the Government Commission on Improving the Stability of the Russian Economy under Sanctions, Deputy Prime Minister Andrey Belousov informed on the risk of dismissal of employees in the second half of 2022 in two production groups. According to him, the decline in engineering production was 10-17%, in chemical production – 9-10%. The maximum number of Russians who can be left without work is estimated at 200-300 thousand people.

According to Mr. Mishustin, the relevant vice-premiers and ministers carried out serious work to analyze the situation with the employment of the population 1.5 years ago. The government discussed all options for the development of events related to possible unemployment.

“But we also have hidden unemployment. It was about the number of 200 thousand or a little more people who may lose their jobs in the next quarter. We need to think about each of them. Here we should perhaps hold a series of meetings to mitigate these risks, help people find work and adapt to the situation if one of the enterprises is closed,” the head of the Cabinet said.

Formerly Ministry of Labor informedthat the unemployment rate in Russia is at a historic low of 3.9%. However, unemployment is predicted to rise there by autumn. As of August 19 of this year, the number of officially registered unemployed from July 25 to August 15 in Russia decreased by more than 6 thousand people, to 675 thousand.

On forecasts for reducing unemployment among young people – in the publication “Kommersant” “Youth Hands for Boredom”.

Milena Kostereva