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.