The economic crisis triggered by Covid-19 can leave up to 8 million Russians out of work and the situation in the labor market may not improve till the end of the year, the head of Russia’s Accounts Chamber has warned.
“According to forecasts, during this crisis the number of unemployed people in Russia will rise from 2.5 million to 8 million for some time,” Alexei Kudrin, who used serve as Russia’s Minister of Finance, told RBC business outlet on Monday. He added that the jobless rate can drop only when the economy rebounds with the rise in demand and consumption and businesses coming back to normal.
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