Russia's Economic Development Ministry forecasts unemployment of 3.0% in 2024-2027

MOSCOW. April 23 (Interfax) - Russia's Economic Development Ministry projects average annual unemployment of 3.0% over the entire forecast horizon of 2024-2027, a ministry representative told reporters.

As reported, the Economic Development Ministry presented the main parameters of the macroeconomic outlook for 2024-2027 at a government meeting on Tuesday.

The average annual unemployment rate had been forecast at 3.1% for 2024-2026 in the previous September version.

Federal State Statistics Service (Rosstat) data indicate that unemployment in Russia was 2.8% in February 2024, which was in line with the lowest level since observation began in 1991. Unemployment in Russia was 2.9% in January 2024.