Russia Jobless Rate Hits Fresh Low of 2.1%

Russia’s unemployment rate fell to a new record low of 2.1% in August 2025, down from 2.2% previously, while analysts had expected it to remain steady at 2.2%. Since 2021, unemployment has trended downward, reflecting labor shortages resulting from the prolonged war in Ukraine and limited economic capacity. The number of unemployed people decreased to 1.592 million in August, from 1.650 million the month before, and was below 1.841 million a year ago. Meanwhile, the number of officially registered unemployed ticked up to 0.337 million in August from 0.374 million in July but remained below last year's 0.423 million.