The Ministry of Labour: There Are More Than 2 Million Registered Unemployed
He stated: «We can see that we do have a growing number of registered unemployed citizens, as of today the number has already exceeded 2 million, and to be more precise, 2 million 90 thousand». He also noted that the third quarter of 2020 will be the most difficult for the labour market, but the dynamics will stabilize in the fourth quarter.
In late May, Vladimir Putin reported that 1.9 million unemployed were officially registered in the country. Kotyakov said that another 3 million people are underemployed. President asked to pay attention to the labour market situation in eight regions — Tyumen, Kaliningrad, Vologda, Chuvashia, Buryatia, Tuva, Kabardino-Balkaria Republic and Altai. The largest increase in the number of unemployed citizens was recorded there from March 1st to April 20th.
The consulting company Boston Consulting Group (BCG) admitted that due to the coronavirus crisis the unemployment rate in Russia may triple compared to the pre-crisis 4.6%.