The jobless fee within the Russian capital was 2.2% in 2022, in line with town’s deputy mayor
Moscow had the bottom unemployment fee amongst main cities in G20 nations final 12 months, Deputy Mayor for Economic Policy Vladimir Efimov mentioned on Tuesday. The fee was calculated in accordance with strategies utilized by the International Labor Organization (ILO).
“According to the ILO methodology, unemployment in Moscow at the end of 2022 dropped to 2.2% compared with 2.6% in 2021,” Efimov said.
He additionally famous that the labor market in Moscow stays secure because of the growth of business and high-tech enterprises, and the creation of manufacturing services geared toward import substitution.
“In the Russian capital, existing companies are expanding their activities and new ones are appearing to attract workers. This stimulates the development of related sectors of the economy, creates a balance in the labor market and helps reduce the unemployment rate,” Efimov defined.
According to the report, Moscow was intently adopted by Tokyo the place the jobless fee was 2.6%, and Beijing at 3.1%. New York was in seventh place with unemployment fee of 4.3%, whereas London ranked decrease at 4.4%. Shanghai and Los Angeles rounded off the highest ten within the rating with identical jobless indicator of 4.5%.
Despite dealing with financial headwinds equivalent to Western sanctions and the following exodus of various giant overseas firms, the Russian capital skilled substantial development, which was pushed specifically by business, finance, and telecommunications.
According to Efimov, the labor market in Moscow has remained secure. He mentioned this was ensured by a balanced coverage within the discipline of employment, measures to help enterprises and companies, in addition to a authorities program to interchange merchandise of overseas manufacturers with home items and people from ‘pleasant’ nations.
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(RT.com)