Unemployment in Moscow is the lowest among the world's largest capitals

The nation press services
2021-04-09 | Since 1 Month

In 2020, Moscow recorded one of the lowest unemployment rates among the 10 largest capitals in the world, after Beijing came in the ranking of the lowest unemployment rates for the largest capitals, according to the authorities of the Russian capital.

According to the authorities, unemployment in Moscow was lower compared to capitals and large cities such as Paris, Berlin, Istanbul, Rio de Janeiro, Tokyo, New York and Delhi.

The deputy mayor of Moscow for economic policy, property and land relations, Vladimir Efimov, said that the unemployment rate in the Russian capital has been in continuous decline since 2015, and by the end of 2019 it was at the level of 2.2%.

The official added that thanks to a balanced approach between measures to combat the spread of the Coronavirus and a program worth 90 billion rubles to support companies, Moscow has succeeded in avoiding a significant increase in the unemployment index during the Corona pandemic.

He pointed out that unemployment in Moscow rose in 2020 by 0.3% and reached 2.5%.

According to a report issued by the "Euromonitor" group, the unemployment rate in Moscow based on the standards of the International Labor Organization (ILO) last year was 2.5%, while the unemployment index in Beijing recorded 1.4%.

While the unemployment index was 3% in Delhi, 3.8% in Tokyo, 4.5% in London, 7.6% in Paris, 7.9% in Berlin, 2.8% in Rio de Janeiro, 8.8% in New York and 17.5% in Istanbul.

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