Russia Jobless Rate Drops Unexpectedly to 2-Year Low


Russian unemployment rate fell to 4.9 percent in August 2017 from 5.2 percent in the same month of the previous year and below market expectations of 5.1 percent. It was the lowest jobless rate since August 2014.

The number of unemployed people fell by 245 thousand to 3.792 million from 4.037 million in the corresponding month of the previous year. Compared to July, the number of unemployed decreased by 113 thousand from 3.905 million.

Real wages rose 3.7 percent year-on-year in August, following a downwardly revised 3.1 percent gain in July and missing market expectations of 4.2 percent. Average nominal wages jumped 7.1 percent to RUB 38,040 while annual inflation rate slowed to 3.3 percent, the lowest since at least 1991. Meanwhile, real disposable income dropped 0.3 percent.

Russia Jobless Rate Drops Unexpectedly to 2-Year Low


Federal State Statistics Service | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/19/2017 1:31:38 PM