Wages in Russia increased 10.50 percent in June of 2023 over the same month in the previous year. source: Federal State Statistics Service

Wage Growth in Russia averaged 5.14 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 August of 2023.

Wage Growth in Russia is expected to be 6.00 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 4.40 percent in 2025, according to our econometric models.

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Russia Real Wage Growth



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-08-02 04:00 PM May 13.3% 10.4% 10.3% 10.2%
2023-08-30 04:00 PM Jun 10.5% 13.3% 8.3% 9.5%
2023-09-27 04:00 PM Jul


Related Last Previous Unit Reference
Unemployment Rate 3.00 3.10 percent Jul 2023
Unemployed Persons 2.30 2.40 Million Jul 2023
Employed Persons 74.00 73.60 Million Jul 2023
Employment Rate 61.10 60.70 percent Jul 2023
Labor Force Participation Rate 62.70 62.60 percent Jun 2023
Productivity 3.70 -0.40 percent Dec 2021
Wages 76604.00 72851.00 RUB/Month Jun 2023
Wages in Manufacturing 70736.00 69200.00 RUB/Month Jun 2023
Wage Growth 10.50 13.30 percent Jun 2023
Minimum Wages 16242.00 15279.00 RUB/Month Jan 2023
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
10.50 13.30 27.20 -41.40 1998 - 2023 percent Monthly

News Stream
Russia Real Wages Grow More Than Expected
Real wages in Russia rose by 13.3% year-on-year in May 2023, above market expectations of a 10.3% growth. It was the eighth consecutive month of real wage increases and the biggest since July 2008. Harsh Western sanctions imposed in response to Moscow's actions in Ukraine resulted in a 6.1% decline in real wages during May 2022. Meanwhile, average nominal wages advanced 16.1% from a year earlier to 72,851 roubles, but increased 2.4% in month-over-month terms. The annual inflation rate in Russia was at 2.5% in May 2023.
2023-08-02
Russia Real Wages Growth at Over 5-Year High
Real wages in Russia rose by 10.4% year-on-year in April 2023, above market expectations of a 10.2% growth. It was the seventh consecutive month of real wage increases and the biggest since February 2018. Extensive Western sanctions imposed in response to Moscow's actions in Ukraine resulted in a 7.2% decline in real wages during April 2022. Meanwhile, average nominal wages advanced 13% from a year earlier to 71,204 roubles. The annual inflation rate in Russia was at 2.3% in April 2023, the lowest since February 2020.
2023-06-28
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