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
Egypt and Russia sign supplementary agreements to advance El-Dabaa nuclear plant
Egypt and Russia have signed a supplementary intergovernmental agreement to push forward the El-Dabaa nuclear power plant project in Egypt, Al Arabiya reported on July 8, citing a statement from ... more
Non-performing loans hit historic low in CESEE, but early warning signs emerge, says EBRD
Non-performing loans (NPLs) in central, eastern and south-eastern Europe (CESEE) fell to their lowest levels since the global financial crisis in 2024, but early indicators suggest rising risks ... more
China’s LNG imports slump for eighth month
China’s LNG imports have fallen on a year-on-year basis for the eighth consecutive month, Bloomberg reported on June 26 citing data from Kpler. Imports of the super-chilled fuel in the world’s ... more
Most Read
-
Putin to skip Rio BRICS summit over ICC warrant as Xi signals no-show
17 days ago
-
Turkey yet to prove rare earth deposit has suggested “giant” potential despite reported processing talks with China
10 months ago
-
Uproar in Mongolia as development bank reveals scale of risky loans and NPLs
3 years ago