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Russia's Jobless Rate Affects Russia Post - January 27, 2010
[Reuters.]Russia's unemployment rate unexpectedly rose to a five-month high of 8.2 percent in December, as some 42,000 people lost their jobs, data showed on Wednesday, underlining the fragility of the economy's recovery.
That took the total number of unemployed to 6.2 million -- the highest reading since July, but well off an 8-year peak of 7.1 million set at the height of the country's crisis last February.
"The increase in unemployment in December is linked to seasonal factors," the Federal Statistics Service said in a statement.
Analysts had expected the December unemployment rate to ease slightly to 8.0 percent from November 8.1 percent.
But officials have warned -- and analysts agree -- that the jobless rate is set to remain elevated for some time to come as companies try to emerge from Russia's recession slicker and more efficient -- and thus with fewer employees.
Russian Post is among the companies planning job cuts this year, with some 33,000 postal staff set to be affected.
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