Russian Jobless Rate Falls to New Record Low in September



Russian unemployment rate dropped to a fresh record low of 4.5 percent in September 2018 from 5 percent in the corresponding month of the previous year, below market expectations of 4.7 percent. In August, unemployment rate was higher at 4.6 percent.

The number of unemployed declined by 72 thousand to 3.434 million in September from 3.506 million in the previous month. Compared with the previous year, unemployment fell by 385 thousand from 3.819 million. 

Real wages in Russia increased by 7.2 percent year-on-year in September, following a downwardly revised 6.8 percent advance in the previous month and above market expectations of a 6.4 percent gain. Average nominal wages surged 10.8 percent to RUB 42,200 while annual inflation rate rose to 3.4 percent, the highest level since July 2017. Meanwhile, real disposable personal income in Russia decreased by 1.5 percent in September, following a 0.9 percent drop in the previous month.

Russian Jobless Rate Falls to New Record Low in September


Federal State Statistics Service | Agna Gabriel | agna.gabriel@tradingeconomics.com
10/17/2018 1:51:08 PM