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Russia's unemployment rate up 7 percent

Xinhua, March 30, 2016 Adjust font size:

Russia's official unemployment rate increased by 7 percent sicne the beginning of 2016, Russian news agency TASS reported Tuesday, quoting a press release by the Russian Ministry of Labor and Social Protection.

"From Jan. 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 7 percent)," the press release said.

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 U.S. dollars per barrel, that Russia's unemployment rate in 2016 will be 5.8 percent. Endi