Belarus reports lowest unemployment in Russia-led economic union

April 7, BPN. The number of unemployed registered with employment services in the Eurasian Economic Union (EAEU) member states rose by 7.6 percent since the end of January to 951,400 in late February, the Eurasian Economic Commission’s (EEC) statistics department reported.

Belarus posted the lowest unemployment rate of 0.1 percent (5,900 people). Unemployment was at 0.7 percent (552,100 people) in Russia; at 2.9 percent (271,900) in Kazakhstan; at 2.8 percent (74,000) in Kyrgyzstan; at 3.5 percent (47,500) in Armenia.

 A total of 4,172,900 people were employed in the Belarusian economy in February, according to the Belarusian National Statistics Committee (Belstat). The unemployment rate calculated by the International Labor Organization’s methods amounted to 3.8 percent.

The Eurasian Economic Union (EAEU) is an international organization for regional economic integration. Its member states include Belarus and Russia, which are under international sanctions for the assault on Ukraine, as well as Armenia, Kazakhstan and Kyrgyzstan. Cuba, Moldova, and Uzbekistan have observer status. Vietnam, Serbia, and Singapore have signed free trade agreements with the EAEU.