Russian Federation Unemployment Rate

Russia's unemployment rate remained steady at 2.4% in February 2025, slightly above market expectations of 2.3%. The number of unemployed individuals stood at 1.786 million, nearly unchanged from January’s 1.808 million. Meanwhile, the number of officially registered unemployed rose to 0.349 million from 0.341 million. Labour shortages continue to impact various sectors, driven by military recruitment, increased defense industry hiring, and emigration since Russia’s invasion of Ukraine in 2022. The central bank considers these shortages a key factor in its decision to maintain high interest rates to curb inflation. In comparison, the unemployment rate was higher at 2.8% a year earlier.