Russia Unemployment Rate Edges Up in March

Russian jobless rate increased for the seventh straight month to 5.9 percent in March from 5.8 percent in February.

The unemployment rate fell to a twenty-one-year low 4.8 percent in August of 2014 but has been on an upward trend since then, touching a fresh two-year high in March.

The number of unemployed people increased to 4.5 million in March from 4.41 million in the previous month. A year earlier, the figure was 4.02 million.

While nominal wages rose 6.1 percent year-on-year to an average RUB 33205 (8.1 percent in February), real pay fell 9.3 percent after dropping by 7.4 percent in the previous month. Real disposable income shrank 1.8 percent (-1.6 percent in February).

Russia Unemployment Rate Edges Up in March

Joana Taborda |
4/17/2015 2:13:25 PM