The unemployment rate in Russia fell to 2.8% in March of 2024 from 2.9% in the previous month, dropping to a new record low, and below market expectations of 2.9%. The result was in line with previous statements from the Central Bank of Russia that the Russian military’s mobilization to fight in Ukraine exacerbated labor shortages and reduced the capacity of the Russian economy, magnified by the mass emigration of working-aged men. The number of unemployed persons fell by 41 thousand to 2.109 million. source: Federal State Statistics Service

Unemployment Rate in Russia decreased to 2.80 percent in February from 2.90 percent in January of 2024. Unemployment Rate in Russia averaged 6.98 percent from 1992 until 2024, reaching an all time high of 14.60 percent in February of 1999 and a record low of 2.80 percent in February of 2024. This page provides - Russia Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Russia Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2024.

Unemployment Rate in Russia decreased to 2.80 percent in February from 2.90 percent in January of 2024. Unemployment Rate in Russia is expected to be 3.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Russia Unemployment Rate is projected to trend around 3.10 percent in 2025 and 3.20 percent in 2026, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-02-28 04:00 PM
Unemployment Rate
Jan 2.9% 3% 3%
2024-04-03 04:00 PM
Unemployment Rate
Feb 2.8% 2.9% 2.9% 2.9%
2024-04-26 04:00 PM
Unemployment Rate
Mar 2.8% 2.9% 3.0%


Related Last Previous Unit Reference
Employed Persons 73.40 73.20 Million Feb 2024
Employment Rate 60.70 60.60 percent Feb 2024
Labor Force Participation Rate 63.20 63.00 percent Dec 2023
Minimum Wages 19242.00 16242.00 RUB/Month Jan 2024
Population 145.60 146.20 Million Dec 2022
Productivity -3.60 3.70 percent Dec 2022
Unemployed Persons 2.10 2.20 Million Feb 2024
Unemployment Rate 2.80 2.90 percent Feb 2024
Real Wage Growth YoY 8.50 8.50 percent Jan 2024
Wages 75034.00 103815.00 RUB/Month Jan 2024
Wages in Manufacturing 73675.00 73145.00 RUB/Month Nov 2023

Russia Unemployment Rate
In Russia, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.
Actual Previous Highest Lowest Dates Unit Frequency
2.80 2.90 14.60 2.80 1992 - 2024 percent Monthly

News Stream
Russia Jobless Rate Falls to New Record Low of 2.8%
Russia's unemployment rate fell to a new record low of 2.8% in February 2024, down from 2.9% in the previous month and compared with market expectations of 2.9%. This is primarily due to labor shortages of skilled workers caused by the emigration and mobilization of men for the war in Ukraine. The number of unemployed individuals declined by 41 thousand from the previous month to an all-time low of 2.109 million, but the officially registered unemployed increased to 0.481 million in February from 0.480 million the month before. In February 2023, the jobless rate was higher at 3.5%.
2024-04-03
Russia Jobless Rate Returns to Historic Low of 2.9%
Russia's unemployment rate fell back to a historic low of 2.9% in January 2024, compared to 3% in the prior month. This is primarily due to labor shortages of skilled workers caused by the emigration and mobilization of men for the war in Ukraine. The number of unemployed individuals declined by 139 thousand from the previous month to an all-time low of 2.150 million, but the officially registered unemployed increased to 0.480 million in January from 0.474 million the month before. In January 2023, the jobless rate was higher at 3.6%.
2024-02-28
Russia Unemployment Edges Up from Historical Low
Russia's unemployment rate edged up to 3% December 2023, in line with expectations and up from historical low of 2.9% recorded in the previous two months. The number of unemployed individuals went up to 2.3 million compared to 2.2 million in November. Simultaneously, the officially registered unemployed remained at 0.4 million. In December 2022, the jobless rate was higher at 3.7%.
2024-02-07