Finance
Russia's jobless rate hits new all-time low in May
Published by Global Banking & Finance Review®
Posted on July 2, 2025
1 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on July 2, 2025
1 min readLast updated: January 23, 2026
In May, Russia's unemployment rate hit a record low of 2.2%, indicating potential economic overheating. The central bank monitors this as a key economic indicator.
MOSCOW (Reuters) -Russia's unemployment rate, seen by the central bank as a key indicator of economic overheating, hit the new all-time low level of 2.2% of the workforce in May, statistical data showed on Wednesday, compared with 2.3% the previous month.
Economists in the Reuters poll predicted no change in the unemployment rate. Central bank Governor Elvira Nabiullina said earlier on Wednesday that there were signs of easing in the severity of labour market shortages.
Russian statistical agency Rosstat provided the following data:
RUSSIAN UNEMPLOYMENT May 25 Apr 25 May 24
No. unemployed (mln) 1.653 1.709 2.005
Officially registered (mln) 0.354 0.336 0.450
Jobless rate (%) 2.2 2.3 2.6
(Reporting by Darya Korsunskaya, writing by Gleb Bryanski, editing by Mark Heinrich)
Russia's unemployment rate hit a new all-time low of 2.2% in May, according to statistical data.
In May 2023, the unemployment rate was 2.2%, down from 2.3% in April 2023 and 2.6% in May 2022.
The central bank views the unemployment rate as a key indicator of economic overheating, and Governor Elvira Nabiullina noted signs of easing in labor market severity.
Rosstat reported that the number of unemployed individuals decreased to 1.653 million in May 2023 from 1.709 million in April 2023.
Economists in the Reuters poll predicted no change in the unemployment rate, which ultimately dropped to 2.2%.
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