There Are Already 700.000 Officially Registered Unemployed in Russia

According to Rostrud, 0.8 mln Russians are registered with the employment services, 700.000 of which have the status of unemployed.

The official statistics are far from reality, and the illegal employment market is not reflected in these data at all.

Finding a new job is getting harder every day. Experts say that the recruiting activity index has dropped by about a third. 45% of employers have reduced or stopped hiring new employees since the end of February. One in ten firms is set to downsize this year.