Russia has the lowest unemployment rate among G20 countries

MOSCOW: In June, Russia became the country with the lowest unemployment among the largest economies

Russia's Federal State Statistics Service Rosstat reported this week that the unemployment rate hit a historic low of 2.4 percent in June, falling by 0.2 percentage points over the month.

According to the results of June, Russia became the country with the lowest unemployment among the largest economies in the world, RIA Novosti reported with reference to data from the G20 countries.

Joblessness rates in other G7 countries were much higher, rising by 0.1 percent to 4.1 percent in the US and Australia, six percent in Germany, seven percent in Italy. In Canada, unemployment increased from 6.2 percent to 6.4 percent.

Rosstat previously clarified that the unemployment rate in the Russian Federation updated its historical minimum, falling to 2.4 percent. Slightly higher are the figures for Japan, where unemployment fell to 2.5 percent in the first month of summer compared to 2.6 in May. In Mexico, the unemployment rate rose from 2.6 to 2.8 percent, and in South Korea it has remained at 2.8 percent for the fourth month in a row.

In other G20 countries, the rate exceeds three percent. Thus, according to analysts, the most acute situation is observed in South Africa, where unemployment has not fallen below 30 percent for four years.

In most of the world's largest economies, unemployment, according to data as of June, has decreased or remained unchanged. The situation improved the most in Spain, where the unemployment rate in the second quarter fell to 11.27 percent compared to 12.29 percent in the first. In Russia, the indicator decreased by 0.2 percentage points over the month. In Brazil, unemployment fell to a multi-year low of 6.9 percent.

In a number of countries, the situation, on the contrary, worsened. Thus, unemployment increased in the United States, Germany, Italy, Australia, Canada, Mexico and India.

On August 3, it was reported that in the first half of 2024, Russia entered the top three largest economies in the world with the lowest level of public debt per person.