The Ministry of Labor does not expect a sharp increase in unemployment

– The current situation in the economy is not typical. And even according to the inflation forecast, we see how the initial expectations are declining. The same is true of labor market expectations. According to the previously presented forecast of the Ministry of Economic Development, unemployment by the end of this year will be 6.7%. I believe that in July, when the updated macro forecast will be presented, the unemployment figures will be adjusted, since so far unemployment in Russia is very low. At a historically low level – about 3 million people, according to Rosstat, – said Elena Mukhtiyarova, Deputy Minister of Labor and Social Protection, in an interview with Rossiyskaya Gazeta at the St. Petersburg International Economic Forum.

She noted that the Ministry of Labor calculated different scenarios for the unemployment situation. “And the government is taking a whole range of measures to minimize risks for the labor market. Therefore, a certain optimism can be expressed: the economy reacts quite flexibly to everything that is happening now, and state support helps in this adaptation,” the deputy minister specified.

Read the full interview with Elena Mukhtiyarova in the next issues of Rossiyskaya Gazeta.

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