MOSCOW, April 4 (Xinhua) -- Russia's unemployment rate has dropped to a record low of less than 3 percent, Russian President Vladimir Putin said Thursday.
"Due to the actions of the government, business and regional trade union associations, we have achieved a significant reduction in the unemployment rate," Putin said.
The president noted that Russia's unemployment rate dropped to 2.9 percent in 2023 and decreased further to 2.8 percent in February this year, adding that unemployment does not threaten the country in the coming years.
Given the current demographic challenges, Putin said that the Russian economy will likely face labor shortages in the coming years, adding that the country needs to import labor from abroad or increase labor productivity. ■
