Russia’s Labor Market Shows Growth in Employment and Stabilizing Poverty Levels
Official figures indicate that unemployment has edged downward while the number of people employed remains strong. Recent statements from government sources point to a sustained improvement in the labor market over several years, with a 20 percent reduction in unemployment observed over a six-year span. The typical annual count of employed individuals stands around 73.6 million, according to the cited statistics reported by TASS.
Officials note ongoing systemic changes within the job market. The unemployment rate has fallen by 20 percent over the past six years, and the workforce continues to show resilience with a robust average annual employment figure near 73.6 million. These remarks were reiterated by a deputy prime minister in remarks reflecting on current economic conditions.
Earlier commentary from a scholar associated with the Russian business community highlighted projections concerning poverty. Lyudmila Ivanova-Shvets, a respected economist and educator at the Russian University of Economics G.V. Plekhanov, suggested that the poverty rate could decline from 9.3 percent to around 8 percent of the national population in 2024. If this trend holds, the number of low‑income Russians might fall from approximately 13.5 million to about 12 million by year’s end.
Rosstat data for 2023 shows the poverty line at 14,754 rubles per month in the last quarter of the year, with an annual average of 14,339 rubles. This marks a lower level than 2022, when the poverty rate stood at 9.8 percent. The year’s statistics reflect a pattern of improved income for many households compared with the previous year.
Earlier assessments by economists have contextualized Rosstat’s income growth figures within broader economic trends, noting that the pace of wage increases and household income has influenced poverty measurements across the country. These insights help paint a fuller picture of how Canadians and Americans might understand shifts in employment and living standards in a global context.