FX.co ★ Russia Jobless Rate Hits Fresh Low of 2.1%

Russia's unemployment rate reached an unprecedented low of 2.1% in August 2025, down from the previous month's 2.2%. This decline surpassed analysts' predictions that the rate would hold steady at 2.2%. Since 2021, there has been a consistent downward trend in unemployment, a reflection of workforce shortages sparked by the ongoing conflict in Ukraine and constraints on economic capacity. The total number of unemployed individuals fell to 1.592 million in August, compared to 1.650 million in July, and showed a significant decrease from 1.841 million recorded in the same period last year. Concurrently, the number of those formally registered as unemployed rose slightly to 0.337 million in August, up from 0.374 million in July, yet it remained below last year's figure of 0.423 million.