Real wages in Russia rose by 2.7% year-on-year in March 2023, below market expectations of a 3.6% growth. It was the sixth consecutive month of real wage increases and the biggest since March 2022. Meanwhile, average nominal wages advanced 6.3% from a year earlier to 71,334 roubles. The annual inflation rate in Russia was at 3.5% in March of 2023, the lowest since July 2020. source: Federal State Statistics Service

Wage Growth in Russia averaged 5.08 percent from 1998 until 2023, 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 May of 2023.

Wage Growth in Russia is expected to be 0.90 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
2023-05-03 04:00 PM Feb 2% 0.6% 1.1% 0.9%
2023-05-31 04:00 PM Mar 2.7% 2% 3.6% 3.4%
2023-06-28 04:00 PM Apr 2.7%


Related Last Previous Unit Reference
Unemployment Rate 3.30 3.50 percent Apr 2023
Employed Persons 73.00 72.80 Million Mar 2023
Unemployed Persons 2.60 2.60 Million Mar 2023
Employment Rate 60.30 60.10 percent Mar 2023
Labor Force Participation Rate 62.20 62.50 percent Dec 2022
Productivity 2.80 -0.40 percent Dec 2021
Wages 71334.00 65094.00 RUB/Month Mar 2023
Wage Growth 2.70 2.00 percent Mar 2023
Minimum Wages 16242.00 15279.00 RUB/Month Jan 2023
Wages in Manufacturing 61879.00 59907.00 RUB/Month Sep 2022
Population 145.60 146.20 Million Dec 2022

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
2.70 2.00 27.20 -41.40 1998 - 2023 percent Monthly

News Stream
Russia Real Wages Grow Less Than Expected
Real wages in Russia rose by 2.7% year-on-year in March 2023, below market expectations of a 3.6% growth. It was the sixth consecutive month of real wage increases and the biggest since March 2022. Meanwhile, average nominal wages advanced 6.3% from a year earlier to 71,334 roubles. The annual inflation rate in Russia was at 3.5% in March of 2023, the lowest since July 2020.
2023-05-31
Russia Real Wages Growth at 11-Month High
Real wages in Russia rose by 2% year-on-year in February 2023, above market expectations of a 1.1% growth. It was the fifth consecutive month of real wage increases and the biggest since March 2022. Meanwhile, average nominal wages advanced 13.2% from a year earlier to 65,094 roubles.
2023-05-03
Russia Real Wages Rise for 4th Month
Real wages in Russia went up by 0.6% year-on-year in January 2023, above market expectations of a 0.6% growth. It follows a 0.6% rise in December, marking the fourth consecutive month of mild increases in wages. Meanwhile, average nominal wages rose 12.4% from a year earlier to 63,260 roubles.
2023-03-29