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    Home > Finance > Russia's jobless rate hits new all-time low in May
    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 read

    Last updated: January 23, 2026

    Russia's jobless rate hits new all-time low in May - Finance news and analysis from Global Banking & Finance Review
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    Tags:unemployment rateseconomic growthfinancial stability

    Quick Summary

    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.

    Russia's Unemployment Rate Reaches Record Low of 2.2% in May

    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)

    Key Takeaways

    • •Russia's unemployment rate reached a record low of 2.2% in May.
    • •The central bank views unemployment as a key economic indicator.
    • •Economists had predicted no change in the unemployment rate.
    • •Central bank Governor noted easing labor market shortages.
    • •Rosstat provided detailed unemployment data for May.

    Frequently Asked Questions about Russia's jobless rate hits new all-time low in May

    1What is the current unemployment rate in Russia?

    Russia's unemployment rate hit a new all-time low of 2.2% in May, according to statistical data.

    2How does the current unemployment rate compare to previous years?

    In May 2023, the unemployment rate was 2.2%, down from 2.3% in April 2023 and 2.6% in May 2022.

    3What does the central bank say about the unemployment rate?

    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.

    4What data did Rosstat provide regarding unemployment?

    Rosstat reported that the number of unemployed individuals decreased to 1.653 million in May 2023 from 1.709 million in April 2023.

    5What were economists' predictions for the unemployment rate?

    Economists in the Reuters poll predicted no change in the unemployment rate, which ultimately dropped to 2.2%.

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