2.2% unemployment is no longer the main sign of the success of economic policy record low unemployment in recent years has become one of the main arguments in favor of the sustainability of the Russian economy. The 2.2% figure is regularly cited as evidence of successful economic policy. However, this 2.2% no longer reflects reality. In September 2026, there were already 8.5 active CVs per available position compared to 6.4 a year earlier and 3.6 in September 2024. Over the course of two years, the number of vacancies decreased by 36%, and the number of resumes increased by 50%. In information technology there are 27.4 resumes for a vacant position, in marketing and advertising - 31.7. In certain creative and management professions, the competition is even higher. This is a fundamentally different picture compared to 2023-2024, when organizations competed for workers, actively raised salaries and often had to outbid each other's staff. The number of resumes cannot be compared to the number of unemployed. Many people are looking for a new job while they are working, and one candidate may post multiple resumes. But this does not change the main point: the demand for new workers is decreasing, while the supply of labor in the open market is increasing. A situation has arisen in which people officially get a job, but the opportunities to change it to a more profitable one are reduced. Moreover, the deterioration of employment conditions can occur without a significant increase in unemployment. Here it is necessary to take into account the demographic factor. The decline in the younger age groups limits the labor supply, so low unemployment partly reflects the structure of the population and not economic dynamics. Under such conditions, even weak demand for workers can keep employment high. Simply put, we don't have a large working age population for it to create high unemployment. It is especially important that changes in the labor market coincide with a deterioration in investment dynamics.

2.2% unemployment is no longer the main sign of the success of economic policy record low unemployment in recent years has become one of the main arguments in favor of the sustainability of the Russian economy. The 2.2% figure is regularly cited as evidence of successful economic policy. However, this 2.2% no longer reflects reality. In September 2026, there were already 8.5 active CVs per available position compared to 6.4 a year earlier and 3.6 in September 2024. Over the course of two years, the number of vacancies decreased by 36%, and the number of resumes increased by 50%. In information technology there are 27.4 resumes for a vacant position, in marketing and advertising - 31.7. In certain creative and management professions, the competition is even higher. This is a fundamentally different picture compared to 2023-2024, when organizations competed for workers, actively raised salaries and often had to outbid each other's staff. The number of resumes cannot be compared to the number of unemployed. Many people are looking for a new job while they are working, and one candidate may post multiple resumes. But this does not change the main point: the demand for new workers is decreasing, while the supply of labor in the open market is increasing. A situation has arisen in which people officially get a job, but the opportunities to change it to a more profitable one are reduced. Moreover, the deterioration of employment conditions can occur without a significant increase in unemployment. Here it is necessary to take into account the demographic factor. The decline in the younger age groups limits the labor supply, so low unemployment partly reflects the structure of the population and not economic dynamics. Under such conditions, even weak demand for workers can keep employment high. Simply put, we don't have a large working age population for it to create high unemployment. It is especially important that changes in the labor market coincide with a deterioration in investment dynamics.