Russia’s unemployment rate will not decrease

Within the next three years, Russia’s unemployment rate will not become lower, according to the statement by the Ministry of Labor.

The ministry expects that between 2019 and 2021 the number of the unemployed will not decrease compared to 2018. This year Russia recorded 3.6 million unemployed people. In September, the unemployment rate in Russia was around 4.7%, which is a historical low, according to Kommersant.

In October, seven regions had the unemployment rates over 10%. According to the Ministry for Economic Development, by the end of 2018 and 2019, the unemployment rate will stand at 4.8%. By 2020, it will slightly decrease back to 4.7%. The ministry states that increasing unemployment benefits would result in more people registering with employment services.

Earlier, Izvestia reported that the number of the unemployed Russians may increase by one-third, or 1.1 million people. The journalists referred to the Labor Ministry materials for a trilateral commission on social and labor relations.

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