Page 48 - RusRPTJun20

further increase in unemployment is not exhausted, according to ING.
Since March 1, 2020, 1,654mn Russian nationals applied to employment services either looking for a job or to receive a relevant allowance, according to the deputy prime minister, speaking in the middle of May.
Unemployment skyrocketed almost twofold in Russia to more than 1.4mn people by mid-May, Deputy Prime Minister Tatiana Golikova said on May 12, but has stepped up again in the last weeks of the month.
"The number of registered unemployed has increased as of the date we are speaking about — the date of transition to another stage — from 725,800 to 1,434mn people. That is, it has almost doubled or increased by 97.6%," Golikova said in the middle of the month.
Putin announced increased unemployment benefits for individuals who lost their jobs before March 1 on May 27​. As part of the government’s COVID relief plan, those who lost their jobs since the beginning of March receive a monthly unemployment check worth the minimum wage, RUB12,130 ($170). However, those who lost work prior to March 1 receive a check worth RUB1,500-RUB12,130, depending on their previous salary.
Putin announced that the minimum unemployment payout for these individuals will triple to RUB4,500 ($64) per month. They will also now receive the monthly RUB3,000-ruble-per-child unemployment payment for parents of minors that was announced in April as a COVID relief measure. As roughly 45% of Russia’s unemployed receive the minimum unemployment benefit, this change will affect a large portion of the country’s out-of-work population. It will cost the government RUB35bn ($496mn) to implement.
In 1Q20, net migration slowed down to 45.8k people, from 92.6k people in 4Q19​, failing to offset the natural decline in the population over the same period (-121.7k people). The largest groups came from Ukraine (+21.4k people) and Tajikistan (+10.6k people).
Since March 1, 2020, 1,654mn Russian nationals applied to employment services either looking for a job ​or to receive a relevant allowance, according to the deputy prime minister. The unemployment skyrocketed almost twofold in Russia to more than 1.4mn people by mid-May, Deputy Prime Minister Tatiana Golikova said on May 12. "The number of registered unemployed has increased as of the date we are speaking about — the date of transition to another stage — from 725,800 to 1,434mn people. That is, it has almost doubled or increased by 97.6%," she said.
Russia’s current labour market situation is serious, but not catastrophic,
and will start to stabilize in June, Labour and Social Protection Minister Anton Kotyakov said late on Monday in an interview to the Pozner TV show aired on the Channel One. “I see the situation as rather serious for the Russian labour market, but I would not call it a catastrophe. ... As of today, the figure of unemployed people registered with the services is high -- 1.6 million people. ... According to our forecast, the amount of unemployed will continue growing in May–June,” he said. “Our estimate shows that we are moving within a scenario ... of 2.5 million registered unemployed people. This is not a large number for Russia taking into account the analysis of experiences of other states where unemployment is higher. I see no prerequisites for a social explosion, though
48​ RUSSIA Country Report​ June 2020 ​ ​www.intellinews.com