Putin described unemployment in Russia as “almost non-existent”.

OREANDA-NEWS  In Russia, unemployment is at a minimum level, around 2.8-2.9 percent, so we can assume that it is almost non-existent. In such words, the situation on the labor market in Russia was described by President Vladimir Putin at a meeting with students and teachers of Harbin Polytechnic University, TASS reports.

The Head of State explained the result, first of all, by the economic policy pursued by the country’s leadership and the government. Earlier this week, Putin spoke about low unemployment during a speech at a meeting with military district commanders.

For China, the shortage of jobs remains a painful topic, and the problem is especially acute for young people. A year ago, the unemployment rate among young people exceeded 20 percent.

Already in August, after another increase, Beijing refused to publish the relevant data, and also began to put pressure on the expert community to stop discussing the situation.

In Russia, the unemployment situation is the opposite. The central bank has been calling its decline a threat to the economy for more than a year, noting that a shortage of personnel leads to an overheating of the labor market and an increase in inflation. This month, the head of the Ministry of Economic Development, Maxim Reshetnikov, admitted for the first time that there are signs of overheating in the economy.