Russia Jobless Rate Edges Dow To 5.3%

The unemployment rate in Russia declined to 5.3 percent in December of 2016 from 5.4 percent in November and below market expectations of 5.4 percent.

The number of unemployed people decreased by 11 thousand to 4.103 million in December of 2016. Meanwhile, the number of economically active people increased by 200 thousand to 76.9 million, representing 52 percent of total population. 

Real wages increased 2.4 percent year-on-year in December of 2016, following an upwardly revised 2.1 percent rise in November and beating market expectations of 1.6 percent. Nominal wages went up 7.9 percent to RUB 47,054 (+8 percent in November) while real disposable income declined 6.1 percent, following a 6 percent drop in November.

Joana Taborda |
1/25/2017 1:56:59 PM