Unemployment in Russia remains at 2.3%, real disposable incomes grow 8.4% in 2024 - Mishustin

MOSCOW. Feb 7 (Interfax) - Unemployment in Russia remains at 2.3%, Russian Prime Minister Mikhail Mishustin said when presenting the results of the economy's performance in 2024 during a meeting with President Vladimir Putin on Friday.

"Another important figure is the level of unemployment. On average, it did not exceed 2.5% throughout the year. Currently, it stands at 2.3%," he said.

Mishustin also provided data showing the dynamics of the population's real incomes in the previous year.

"Our real monetary incomes increased 8.4%, exceeding forecasts, while real wages grew 8.7% over 11 months," he said.

According to previously published Rosstat data, as of November 2024, unemployment in Russia stood at 2.3%, matching the historical low reached in October for the whole period since the figure began to be tracked in 1991.

According to Rosstat, the growth of real disposable incomes in Russia reached 9.4% year-on-year in Q3 2024, following a 9.8% increase in Q2 and 6.4% in Q1. Overall, Rosstat estimated the growth in real disposable incomes at 8.6% in January-September 2024.

Real disposable incomes grew 5.8% in 2023 after falling 1% in 2022, according to Rosstat. The Economic Development Ministry in its September macroeconomic forecast projected a 7.1% increase in real disposable incomes for 2024.