Russia had an employment rate of 71.7% in 2021. The indicator recorded a growth of 2.4% in 2021 as compared to the previous year. Between 2010-2021, the indicator increased by 6.5%. The employment rate in Russia was highest in the year 2021 and lowest in the year 2010, between 2010 and 2021.
Employment rates are defined as a measure of the extent to which available labor resources (people available to work) are being used. They are calculated as the ratio of the employed to the working-age population. When calculating the employment rate, a higher rate is considered a good indicator of a thriving labor market, while a low employment rate could indicate underlying issues.
The employment rate is frequently used in connection with the unemployment rate as one of the most popular and useful metrics for assessing the health of a nation's labor market. A country's GDP is generally considered to benefit from a high employment rate. Countries with a high GDP rate have higher employment levels.
According to GlobalData, Qatar, Cambodia, Madagascar, Solomon Islands, Rwanda, United Arab Emirates, Tanzania, Nepal, Laos, and the Netherlands are the countries with the highest employment rate in 2021.
Jordan, Yemen, Syria, Nigeria, South Africa, Alegria, Iraq, Somalia, Sudan, and Comoros were the countries with the lowest employment rate in 2021.
Between 2010 and 2021, Oman, Hungary, Bosnia and Herzegovina, North Macedonia, Lithuania, Poland, Serbia, Malta, Latvia, and Estonia were some of the countries with the highest growth of employment rates.
Nigeria, Syria, South Africa, Jordan, India, Morocco, Fiji, Bahamas, Sierra Leone, and Niger were some of the countries with the lowest growth of employment rate, between 2010 and 2021.
Population rate, availability of skilled labor, economic cycle, industrial growth, immigration, income inequality, socio-cultural factors, education, and income support policies, are some of the factors that impact the employment rate in a country.
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