Russia's ILO-definition unemployment slips to 5.6% in April.

By bne IntelliNews May 27, 2013

The unemployment rate (under the ILO-definition) moderated further to 5.6% in April after jumping to 6% in January. Investors expected it to drop to 5.5%, according to a Bloomberg survey. The rate was fluctuating around 5.3% throughout H2 2012. To compare, the unemployment rate was reported at 5.8% in April 2012 and 7.2% in April 2011, according to RosStat.

In the beginning of H2/13 employment is going to improve but the positive seasonal effect may be outweighed by slowing activity in all major sectors.

The labour force in April remained almost flat at 75.3mn people. The number of unemployed declined to 4.2mn people. The absolute number of unemployed declined by 4.5% in annual terms and by 2.3% in monthly terms. Official unemployment amounted to 1.1mn people, out of which 0.9mn people received unemployment benefits. As usual, in April the number of unemployed in rural areas was twice as high as the number of unemployed in urban areas. Long-term unemployed (people without a job for a year and more) constituted some 32% of all unemployed, while workers without a job for less than 3 months were 31%.

Related Articles

Kazakhstan cuts grain export forecast as Russia squeezes it out of markets

Kazakhstan has cut its grain export target for the 2017/2018 marketing season to 8mn tonnes of grain from the previously expected 9mn tonnes, Deputy Agriculture Minister ... more

Iran rejects idea that a Caspian Sea settlement is in sight

Iran’s foreign ministry has rejected the suggestion that the five littoral states that share the shore of the Caspian Sea have largely agreed to delineate its maritime borders and settle their ... more

Russian embassy suggests Turkish Stream as a solution to air pollution in Macedonia

The Russian embassy in Skopje has suggested the Turkish Stream pipeline as a solution to the extreme air pollution in Macedonia, a problem which the country, particularly the capital, has ... more

Dismiss