Putin "Unemployment rate of 2.4% is lowest ever..."There are economic difficulties".

Russian President Vladimir Putin has stressed that the country's unemployment rate is at an all-time low.

"Russia's unemployment rate has hit an all-time low of 2.4% for the third month in a row," Putin said, presiding over a government meeting on economic issues by video on Friday local time, adding that the Russian labor market is trending positively.

In particular, it explained that the unemployment rate for young people under the age of 25 has declined and is currently below 9%.

"Gross domestic product is expected to grow by 3.9% by the end of this year," Putin said, above the global average economic growth rate of 3.2% expected by the International Monetary Fund, the IMF.

But Putin added: "I want to stress that our economy is still facing difficulties and imbalances."

It was primarily attributed to the limitations of Russia's economic structure itself, such as external sanctions and a lack of manpower, technology, and logistics, in addition to the difficulties of Russia's internal industry, agriculture, and finance.

He also pointed out the inflation situation, saying these factors are reflected in consumer prices.

Putin called for the Russian government to develop a demand-side economy, increase production of goods and services, launch new investment projects and create modern jobs.

Major economic conditions such as Russia's labor market and prices are closely related to Ukraine's "special military operation" that has been going on for three years.

It is pointed out that Russia is offering monetary compensation, including a steep down payment to join the army, to secure troops for the battlefield in Ukraine, resulting in soaring wages and private sector staffing shortages and rising prices.