Putin orders full recovery of Russia’s labour market in 2021

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Russian President Vladimir Putin ordered officials to fully restore the country’s labour market, hit by the coronavirus crisis and economic shutdowns, in 2021.

During a federal budget meeting, Putin said around 3 million people were registered as unemployed, which he called a high figure. This week the government said the unemployment rate was seen increasing in June to 6.3%.

So far, the government has used measures such as tax deferrals for businesses and cheap loans for small- and medium-sized companies as a way to prop up the struggling labour market. It was not immediately clear what additional measures might be used to help a recovery.

“The task of fully restoring the labour market should be fulfilled in 2021,” Putin said.