Russia's unemployment rate up by seven percent

Moscow, March 30: Russia's official unemployment rate increased by seven percent since the beginning of 2016, the country's ministry of labour and social protection said.

"From January 12, 2016, to March 23, 2016, there is an increase in the number of unemployed citizens registered in employment agencies, by 69,900 people (or seven percent)," Xinhua quoted the ministry as saying in a statement.

The employment situation has improved compared with the same period in 2015, when the unemployment rate grew 12 percent.

The ministry of economic development has predicted, based on the oil price of $50 per barrel, that Russia's unemployment rate in 2016 will be 5.8 percent.

IANS