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Russian official considers 3-4% optimum unemployment level for country

First Deputy Prime Minister of the Russian Federation Andrei Belousov believes that the country has almost reached a socially acceptable result

First Deputy Prime Minister Andrei Belousov Gabriel Grigorov/TASS

First Deputy Prime Minister Andrei Belousov

© Gabriel Grigorov/TASS

MOSCOW, November 5. /TASS/. The optimum level of unemployment in Russia is 3-4%, First Deputy Prime Minister Andrey Belousov said at the Znanie (Knowledge) marathon within the framework of the International RUSSIA EXPO.

"For our country the familiar, or let’s say, socially acceptable level of unemployment is 3-4%," he said.

Russia has almost reached the socially acceptable level, the official added. "We should fix roughly at the level of 3-4%," he noted.

The International RUSSIA EXPO is running from November 4, 2023 to April 12, 2024 at the Exhibition of Achievements of the National Economy (VDNKh) in Moscow. Its goal is to demonstrate Russia’s major achievements in various sectors of the economy, with all 89 Russian regions participating. TASS is the general information agency of RUSSIA EXPO.

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