On June 20, Vladimir Putin, President of the Russian Federation, announced that unemployment in southern Russia and the North Caucasus had been reduced by half.

During his address at the plenary session of the St. Petersburg International Economic Forum, Putin stated that the country had reached a historic low in unemployment, particularly in regions traditionally struggling with joblessness. “We have achieved a historic low in unemployment. There is positive momentum in the regions of the federation where employment has traditionally been a pressing issue. This primarily concerns southern Russia and the North Caucasus. Unemployment has fallen by about half here. This is a very good indicator,” he emphasized.

Putin attributed this improvement to a combination of supportive macroeconomic policies, proactive efforts by regional authorities, federally backed employment initiatives, and the adoption of modern technological tools, such as platform employment services and digital labor marketplaces.