FX.co ★ Russia Unemployment Rate Falls to New Record Low

Russia's unemployment rate reached a historic low of 2.1% in November 2025, slightly undercutting analysts' forecasts of 2.2%, as the nation continues to witness unprecedented low levels of joblessness. The count of unemployed individuals decreased to 1.636 million from 1.657 million in October, significantly down from 1.797 million in the same month the previous year. Meanwhile, officially registered unemployment experienced a marginal increase to 0.352 million from 0.351 million. This tight labor market is indicative of a widespread shortage across all sectors, intensified by military conscription and defense industry recruitment post-Russia's invasion of Ukraine in February 2022, coupled with emigration factors. Authorities anticipate the labor shortage could expand further in the coming years, with possible deficits reaching between 2.5 to 5 million workers, presenting significant challenges for economic development and the availability of a skilled workforce within civilian industries.