FX.co ★ Russia Jobless Rate Steady at Record Low of 2.3%

In April 2025, Russia's unemployment rate remained at a historic low of 2.3%, consistent with March figures and slightly below the anticipated 2.4%. This decline reflects a significant labor shortage attributed to the ongoing conflict in Ukraine. Since 2022, the continual mobilization of military reserves, coupled with increased emigration, has resulted in a substantial exodus of working-age individuals, predominantly men, from the labor force. The total number of unemployed fell to 1.709 million in April, down from 1.730 million the previous month. Concurrently, the tally of officially registered unemployed individuals decreased marginally to 0.336 million from 0.337 million. The central bank has identified labor shortages as a critical influence driving its decision to maintain a stringent monetary policy.