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Unemployment in Russia may reach 13% of he country's labor force by the end of 2009, the World Bank said in a report Wednesday, the business news agency Prime-TASS reported.
At the end of March, Zeljko Bogetic, the World Bank's chief economist for Russia, said that unemployment rate in Russia was expected to reach 12% by the end of 2009.
In May, unemployment in Russia amounted to 7.5 million people, or 9.9% of the country's labor force, as calculated under International Labor Organization (ILO) standards, the Federal State Statistics Service said earlier.
The level of poverty in Russia is expected to increase to 17.4% by the end of the year, the World Bank also said. As of the beginning of the year, the poverty level in Russia was at 12.7%, Bogetic said earlier.
Source: ITAR-TASS
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