Vladimir Efimov: the level of unemployment decreased by almost three times

The lowest unemployment level since May, 2020 - 0.46% - is registered in Moscow, said Vladimir Efimov, Deputy Mayor of Moscow for Economic Policy and Property and Land Relations.

“Since the beginning of 2021 the level of officially registered unemployment decreased by almost three times: from 1.32% on January 1 2021 to 0.46% on January 16 2022. It is also the lowest number since May 2020. The unemployment level has been consistently decreasing since October 2020, when peak levels were recorded - 3.03%. Today there are 33.6 thousand officially registered unemployed. Moscow's economy remains robust, therefore we don’t expect this tendency to change against the backdrop of a new wave of COVID-19 pandemic,” the deputy mayor said.

Strains level on the labor market of Moscow, which is expressed as a ratio of the number of CV’s and vacancies, in December 2021 decreased by 41% compared to December 2020. Compared to the same month of 2019 year the strains level decreased by 45%. As far as number of vacancies is concerned, it grew since 2020 year by 60% and since 2019 year by 76%. The number of CV’s decreased accordingly - by 4% and by 2%.

“Since January 2019 strains level in the labor market of Moscow remains at lowest level - 5,1 CV’s per vacancy, the peak level was recorded in May 2020 - 17,2 resumes per vacancy,” said Kirill Purtov, Moscow Government Minister and Head of the Department of Economic Policy and Development.

According to the “Trudvsem” portal, the number of hired individuals in Moscow for the period from April 2020 to December 2021 exceeded the number of laid off employees by 584 thousand people. The maximum excess of hired over laid off since the beginning of the pandemic was recorded in the IT sector - 82.1 thousand people, in wholesale – 73.1 thousand, in construction – 66.9 thousand and in health care – 57.7 thousand.