Russian economy shows growth amid low unemployment rate — Economy Ministry

Business & Economy April 23, 16:29

According to the ministry, it indicates that Russia's labor market is "fairly flexible"

MOSCOW, April 23. /TASS/. The Russian economy is demonstrating growth amid the reasonably low unemployment rate of 3%, a spokesperson of the Economic Development Ministry told reporters.

"The economy is growing against a very low unemployment rate. The low level continues for a year and a half, while the economic growth is secured. It shows that our labor market is fairly flexible," he said.

"At the same time, we have the conservative scenario where the relevant risks are embedded," the spokesperson noted.

The Ministry of Economic Development expects that the unemployment rate will remain within 3% in Russia this year.

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