Russian jobless numbers hit 6 million

President Dmitry Medvedev described the situation as "difficult, but controllable."

By
March 16, 2009 10:16

 
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The number of jobless in Russia has reached 6 million, President Dmitry Medvedev said on Sunday, as the country is hit by the global economic downturn and slumping oil prices. Six million jobless would correspond to unemployment rate of about 8 percent. Medvedev described the situation as "difficult, but controllable." Russia is expected to slide into recession this year and is facing its bleakest economic outlook since the 1998 financial crisis. Medvedev said in a television interview that while the situation in the economy will be difficult, the government won't allow a massive economic meltdown like during the turbulent 1990s after the Soviet collapse. "We now have a completely different economy, and a completely different attitude to social issues," he said. "Things like we have seen in the past won't happen again."

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