Russia's joblessness stays at record low, says Putin
The Russian president has noted a continued decline in the number of unemployed individuals, especially among the youth. Read Full Article at RT.com
TroibNews 
According to President Vladimir Putin, the unemployment rate in Russia held steady at a record low of 2.4% for the third consecutive month in August. This information was shared on Monday during a government meeting focused on economic issues.
Putin highlighted a significant decline in youth unemployment, stating, “Now it is less than 9%, after having decreased by more than 1 percentage point over the year," noting that the rate had been 11.6% the previous year.
The state statistics agency, Rosstat, confirmed that the unemployment rate in Russia remained at its historic low of 2.4% for August, with this minimum first achieved in June 2024.
As of August, Rosstat indicated that 1.8 million individuals aged 15 and older were categorized as unemployed.
Discussing the broader Russian economy, Putin remarked on its ongoing growth. He reported that industrial growth for the first eight months of the year was 4.5%, with the manufacturing sector expanding by 8.1% and mechanical engineering seeing a rise of nearly 20%.
However, the president also acknowledged some economic imbalances stemming from “external sanctions and our own structural limitations, including a shortage of personnel and technology, logistics.” He noted that these challenges are reflected in consumer price dynamics.
The government has been tasked with fostering a supply-side economy to enhance labor productivity, initiate new investment projects, and develop modern jobs across all sectors.
Citing predictions, Putin stated that Russia's GDP is expected to grow by 3.9% by the end of the year, which surpasses the global average. He pointed out that the IMF projects global GDP growth at 3.2% for this year.
Frederick R Cook contributed to this report for TROIB News
Putin highlighted a significant decline in youth unemployment, stating, “Now it is less than 9%, after having decreased by more than 1 percentage point over the year," noting that the rate had been 11.6% the previous year.
The state statistics agency, Rosstat, confirmed that the unemployment rate in Russia remained at its historic low of 2.4% for August, with this minimum first achieved in June 2024.
As of August, Rosstat indicated that 1.8 million individuals aged 15 and older were categorized as unemployed.
Discussing the broader Russian economy, Putin remarked on its ongoing growth. He reported that industrial growth for the first eight months of the year was 4.5%, with the manufacturing sector expanding by 8.1% and mechanical engineering seeing a rise of nearly 20%.
However, the president also acknowledged some economic imbalances stemming from “external sanctions and our own structural limitations, including a shortage of personnel and technology, logistics.” He noted that these challenges are reflected in consumer price dynamics.
The government has been tasked with fostering a supply-side economy to enhance labor productivity, initiate new investment projects, and develop modern jobs across all sectors.
Citing predictions, Putin stated that Russia's GDP is expected to grow by 3.9% by the end of the year, which surpasses the global average. He pointed out that the IMF projects global GDP growth at 3.2% for this year.
Frederick R Cook contributed to this report for TROIB News
