Real wages in Russia rose by 0.4 percent year-on-year in October of 2022, the first period of real wage growth since March and rebounding from the 1.4 percent increase in the prior month. The data is consistent with central bank statements that the Russian labor market is tightening significantly, as the military mobilization led to labor shortages and unemployment stands at a record low. Meanwhile, average nominal wages rose by 13.1 percent to 62,470 rubles. source: Federal State Statistics Service

Wage Growth in Russia averaged 5.15 percent from 1998 until 2022, reaching an all time high of 27.20 percent in December of 2001 and a record low of -41.40 percent in January of 1999. This page provides - Russia Wage Growth- actual values, historical data, forecast, chart, statistics, economic calendar and news. Russia Real Wage Growth - data, historical chart, forecasts and calendar of releases - was last updated on February of 2023.

Wage Growth in Russia is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Russia Real Wage Growth is projected to trend around 2.00 percent in 2024 and 1.80 percent in 2025, according to our econometric models.

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Russia Real Wage Growth



Calendar GMT Actual Previous Consensus TEForecast
2022-11-30 04:00 PM Sep -1.4% -1.2% -1.8% -1.3%
2022-12-28 04:00 PM Oct 0.4% -1.4% 0.4% 0.2%
2023-02-08 04:00 PM Nov 0.4% -1.6% -0.9%


Related Last Previous Unit Reference
Unemployment Rate 3.70 3.90 percent Nov 2022
Unemployed Persons 2.70 2.90 Million Nov 2022
Employed Persons 72.40 72.10 Million Nov 2022
Employment Rate 60.20 59.90 percent Nov 2022
Labor Force Participation Rate 62.20 62.70 percent Sep 2022
Productivity 2.80 -0.40 percent Dec 2021
Wages 62470.00 61879.00 RUB/Month Oct 2022
Minimum Wages 16242.00 15279.00 RUB/Month Jan 2023
Wage Growth 0.40 -1.40 percent Oct 2022
Wages in Manufacturing 61879.00 59907.00 RUB/Month Sep 2022
Population 145.55 146.20 Million Dec 2021

Russia Real Wage Growth
In Russia, Real Wage Growth measures the year-on-year change in average monthly wages adjusted for inflation.
Actual Previous Highest Lowest Dates Unit Frequency
0.40 -1.40 27.20 -41.40 1998 - 2022 percent Monthly

News Stream
Russian Wages Rebound in November
Real wages in Russia rose by 0.4 percent year-on-year in October of 2022, the first period of real wage growth since March and rebounding from the 1.4 percent increase in the prior month. The data is consistent with central bank statements that the Russian labor market is tightening significantly, as the military mobilization led to labor shortages and unemployment stands at a record low. Meanwhile, average nominal wages rose by 13.1 percent to 62,470 rubles.
2022-12-28
Russia Real Wages Fall Less than Expected
Real wages in Russia decreased 1.4 percent year-on-year in September of 2022, less than market expectations of a 1.8 percent fall. It follows a 1.2 percent decline in August, marking the sixth consecutive drop in wages. Meanwhile, average nominal wages rose 12.1 percent from a year earlier to 61,879 roubles.
2022-11-30
Russia Real Wages Falls for 5th Month
Real wages in Russia went down 1.2 percent year-on-year in August of 2022, following a 3.2 percent decline in July, marking the fifth consecutive drop in wages. Meanwhile, average nominal wages rose 12.9 percent from a year earlier to 59,907 roubles.
2022-11-02