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  Wednesday, October 21, 2020
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Russia's unemployment rate declined by 10%
Russia's unemployment rate declined by 10% to 6% in 2007 year on year, the head of the Russian delegation to a session of the UN Commission on Social Development said.

"Against the backdrop of sustainable economic growth the unemployment rate has declined significantly to 6% of the working population," Viktor Kozbanenko, a Health and Social Development Ministry spokesman, said. "In 2007 alone, the number of jobless declined by 10%."

Among problems facing Russia's labor market, Kozbanenko highlighted a shortage in workers caused by a demographic decline, growing global competition for qualified personnel, and a need to "reorient" the education system to meet employer demand for specialists.

He said the Russian government is also mulling more flexible labor arrangements for women so they can combine family commitments with a career, and new legislation on migrant workers.

UN labor agency the International Labor Organization (ILO) said in a report in late January that the world unemployment rate was 6% in 2007 and is set to climb to 6.1% this year as the global economy slows down.

The Geneva-based agency said the projection could prove to be too low as the global economy shows signs that it is heading toward a recession.


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