Oreshkin expects the labor market to return to pre-crisis levels by the end of 2021

by time news

Aide to the President of the Russian Federation Maxim Oreshkin expects a complete recovery of the labor market in Russia to pre-crisis levels by the end of 2021. Earlier, Russian President Vladimir Putin set a task to restore the labor market to 2019 indicators by the end of this year.

“We expect that by the end of the year there will be a complete recovery, and the labor market will return to the level where it was before the crisis,” said Mr. Oreshkin, speaking at the New Knowledge marathon (quoted by TASS). He noted that thanks to active measures, active support of demand last year, unemployment had already decreased from 6.4% to 5.4%, a million jobs in the Russian economy were restored.

Real wages of Russians in February of this year increased by 2% compared to February last year, Rosstat reported earlier. According to the service, the average monthly nominal salary was 51,229 rubles.

Unemployment in March, according to Rosstat, amounted to 5.4%. 4.1 million people aged 15 and over were recognized as unemployed, 1.7 million of them are registered at labor exchanges. Rosstat estimates unemployment according to the methodology of the International Labor Organization. According to it, people who are looking for a job and are ready to start it in the near future are considered unemployed.

Rosstat data indicate the recovery of quantitative indicators of household demand and the labor market to pre-crisis levels.

Read more in the publication of “Kommersant” “The economy emerged from the pit of the crisis.”

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