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Russia's ILO unemployment rate down 100,000 people in August

© RIA Novosti . Maksim Bogodvid / Go to the mediabankSearching for employment
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Russia's unemployment rate calculated under International Labor Organization standards fell by 100,000 people to 6.2 million in August, a 1.6% decline month on month, the country's top statistics body said on Monday.

MOSCOW, September 21 (RIA Novosti) - Russia's unemployment rate calculated under International Labor Organization standards fell by 100,000 people to 6.2 million in August, a 1.6% decline month on month, the country's top statistics body said on Monday.

"In late August 2009, an estimated 6.2 million people, or 8.1% of the economically active population, were classified as jobless," Rosstat said.

A total of 2.1 million Russian citizens were officially registered with government unemployment agencies, including 1.8 people entitled to unemployment benefits.

Russia has been hard hit by the global economic crisis, with most domestic businesses either laying off personnel or curtailing production amid declining demand.

According to European statistics, unemployment in the 27 EU member countries was 9% in July, with Spain and Latvia hit hardest with 18.5% and 17.4%, respectively. Only the Netherlands and Sweden have so far reported figures for August, with 3.5% and 9.4%, respectively.

The U.S. unemployment rate jumped to a 26-year high of 9.7 percent in August, according to U.S. Labor Department data.

 

 

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