Russian Unemployment 2007

A comparatively warm winter last year, an increasing demand for labor in the principal economic sectors and a declining working-age population have all contributed to produce a significant and lasting reduction in unemployment. The average unemployment rate (using the ILO definition) fell to 6.3 percent in the first three quarters of the year, compared to an average of 7.3 percent registered during the corresponding period of 2006. By September 2007 the unemployment rate had decreased to 6 percent (see chart below).