A comment on Putin’s view regarding unemployment in Russia, USA and the EU

2020-12-11

Despite the rise in unemployment to 6.3 per cent, Russia’s indicators are lower than those in the United States and the European Union, President Vladimir Putin said at a meeting on economic issues, Interfax reports.

A young unemployed man holding up a sign which says “Please help with work. I have nothing to eat”.

According to the President, the situation with unemployment in our country is better thanks to the government’s measures that were taken in a timely manner. This made it possible to keep unemployment at an “acceptable level”.

“The labour market is under pressure. Our unemployment has grown from 4.7-4.8 per cent average to now 6.8 per cent. At this stage, it is already decreasing to 6.3 per cent. These figures are better than in the United States, where unemployment is already over 8 per cent and are even higher in the Eurozone” – Putin said.

The President noted that the government has been tasked with restoring the employment level to the 2019 value by the end of 2021. Russian officials are regularly assigned tasks, we have already heard about grand plans to reduce poverty by 2024 and various development strategies, for example – “Strategy 2020“. However, the result of these measures is utterly depressing, least of all.

Boasting the level of unemployment is a strange occupation, and why the USA or the Eurozone are cited as an example is also understandable. For example, you could compare the unemployment rate in Russia with Qatar – 0.1% (there is also a lot of gas there), Belarus – 0.2% or Kazakhstan (https://www.ceicdata.com/en/indicator/kazakhstan/unemployment-rate) – 5% (both brotherly states) or, if you need a bigger country, with China – 5.3 %.

In addition to the official statistics on unemployment, there is another one that we check on ourselves every day: people began to work more for less money.

Overworking has become the norm, and now the bosses look askance at a person who leaves work on time, makes comments regarding their input and deprives them of bonuses. So, thirty years after the collapse of the Soviet Union, we returned a hundred years ago in development. It is not worth continuing further.