Friday, August 21, 2015

Jon Hellevig — Russian unemployment nears historic lows despite sanctions

The unemployment rate in Russia dropped in July to 5.3%, not far from the record low of 4.8% a year ago. Notably the number of the economically active population (those working or looking for a job) simultaneously grew from 76.5 to 77.2 million. This shows that real gains were made on the job market.
The unemployment rate must be considered the most accurate indicator of the real health of the economy as the other core indicators such are too much subject to estimations and conventions. Here we then have solid proof that not all is bad in the Russian economy as the press would have it.
How Bloomberg and the neoliberal Moscow Times are full of disinformation about the state of the Russian economy.


Random said...

Much like Japan's lost decade then :)
Tom on a previous post I put up the new Popular Unity Party in Greece.

Matt Franko said...

Tell Pootie-Poot to keep the rates up in the double digits....