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Russian unemployment shrank and incomes rose in November 2011 as the economic recovery gained steam, the Federal State Statistics Service said.
The jobless rate slid to 6.7 percent in November from 6.8 percent the previous month, the Moscow-based statistics office said in an e-mailed statement today. Disposable income rose an annual 2.6 percent after gaining a revised 0.2 percent the month before, it said.
The economy will show “positive dynamics” in the fourth quarter after shrinking on a seasonally adjusted basis in the third, Deputy Economy Minister Andrei Klepach told reporters on Dec. 15. Gross domestic product is set to expand an annual 3.8 percent this year, according to the Economy Ministry.
Wages adjusted for inflation rose an annual 3.2 percent in November after gaining 3 percent in the previous month, the service said. Retail sales increased 4.6 percent from the same period last year after rising a revised 4.5 percent in October, it said.
Source: bloomberg.com
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