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. Last Updated: 07/27/2016

Private Sector Growing

MOSCOW () -- More than half of Russia's workers are now employed in the private sector, the government said Tuesday.


The latest report from the State Statistics Committee did not say exactly what share of the economy is now in private hands, but it did say that new small businesses are playing an increasingly important role in the emerging market economy. According to the report, Russia has nearly 1 million small businesses employing 9 million people.


The statistics agency's latest report estimated that 4.5 million Russians - about 6 percent of the workforce - are unemployed.


Unemployment figures are imprecise in Russia and some economists say the real number of jobless could be 10 million.