Russia’s labor market is set to rebound by the end of 2021, with the unemployment rate falling below five percent, according to documents related to the national budget plan.
The situation in the labor market is expected to improve as the Russian economy recovers from the coronavirus crisis, the note to the federal budget for 2021-2023, seen by TASS news agency, says. The number of employed people is set to reach nearly 72 million next year, the document said citing calculations based on the International Labour Organization (ILO) methodology.
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