Murmansk against the Tide
OREANDA-NEWS. January 29, 2009. While unemployment in Russia surges, the latest job figures from Murmansk Oblast show that unemployment in the region is decreasing.
According to the regional administration unemployment in Murmansk Oblast the first three weeks of January decreased from 2,5 percent to 2,4 percent. That figure is far from the norm in today’s Russia.
Only in December, more than 500,000 Russians lost their jobs, bringing the overall unemployment figure to nearly six million. According to Vesti.ru, the unemployment might in the course of the year increase to as much as 11 million people.
Also Murmansk is however expected to experience growing strains in its labor market. The regional economy, which is heavily export-oriented, will inevitably suffer as global demands drop and investment projects are put on hold. Among the companies in trouble is Rusal’s Kandalaksha’s Aluminium Plant, which will have to make serious staff cuts.
In the Kirkenes Conference, Norway, today, Chairman of the Murmansk regional parliament, Yevgeny Nikora admitted that 2009 will be “a very hard year”. Budget revenues will shrink and major pressure will be put on the labor market. He still believes the regional administration will be able to keep the situation stabile partly with upholding the regional salary level and high consumer demands.
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