Support The Moscow Times!

Now is the time to support independent reporting from Russia!

Contribute Today

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

Russia media is under attack.

At least 10 independent media outlets have been blocked or closed down over their coverage of the war in Ukraine.

The Moscow Times needs your help more than ever as we cover this devastating invasion and its sweeping impacts on Russian society.