Support The Moscow Times!

Economic Indexes Improve

Unemployment plunged last month to the lowest level since September 2008 as companies raise spending to meet demand, the State Statistics Service said Tuesday.

The jobless rate dropped to 6.4 percent from 7.2 percent in April. Fixed-capital investment surged 7.4 percent from a year earlier, the most this year.

Inventory rebuilding and low borrowing costs are stoking capital spending as companies benefit from growing demand amid a labor-market rebound. Retail sales grew 5.5 percent from a year earlier last month. Real wages gained 2.6 percent from a year earlier even as real disposable incomes shrank 7 percent.

(Bloomberg)

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.