There is no threat of unemployment in Russia in the coming years – Kommersant

Russian President Vladimir Putin said that there is practically no unemployment in the country and there is no threat of it in the coming years. Today, the unemployment rate has dropped to record lows, the president noted, to 2.8%, thanks to the actions of the government, business, region, and trade unions.

Trade unions, according to Mr. Putin, should be among the first supporters of a qualitative renewal of the economy and social sphere. “You must push even the management of enterprises, the owners of enterprises, the management of institutions, authorities to modernize, to introduce the best technologies. We do not need to be afraid of unnecessary release of labor. We actually have no unemployment. This does not threaten us in the coming years,”— said President at the XII Congress of the Federation of Independent Trade Unions of Russia.

Vladimir Putin noted that the decline in the unemployment rate shows good dynamics, and this, in turn, is “one of the most important indicators of the state of the economy as a whole.” “We will definitely continue to index the minimum wage, which has already been significantly increased with the assistance of trade unions,” the president added.

According to Rosstat, in February 2024 the unemployment rate dropped to 2.8% compared to 2.9% a month earlier. The average age of the unemployed was 38.3 years. At the end of 2023, the unemployment rate was 3.2%, and the number of employed people increased to a record 74.2 million people. According to Deputy Prime Minister of the Russian Federation Tatyana Golikova, over the past six years unemployment decreased by 20%.

Read more about the economic situation in the country in the Kommersant article. “Poverty has reached historic lows”.

Lusine Balasyan