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4.3 Industrial sectors and trade 4.3.1 Producers PMI
4.5 Labour and income
4.5.1 Labour market, unemployment dynamics
Russia’s unemployment rate decreased to a fresh record low of 3.8% in August of 2022, from 3.9% in the previous three months and lower than market expectations of 4.1%. The number of unemployed people decreased by 45 thousand from a month earlier to 2.855mn people and those officially registered as unemployed went down by 15 thousand to 0.821mn. Meanwhile, the employment rate rose to 60.4% from 59.9%. In August of 2021, the jobless rate was higher at 4.4%.
Large corporations are stuck begging for exemptions and fighting to cap their own "contributions," which notably has not been spearheaded by entreaties from the Russian Union of Industrialists and Entrepreneurs to the Duma or Presidential Administration. Long-time business ombudsman
1 in 4 IT-specialists and programmers in Russia have fled the country since mobilisation began, posing a huge economic drag on productivity,
52 RUSSIA Country Report November 2022 www.intellinews.com
