Russia Wages (ann. var. %)

Wages in Russia

Conditions improved slightly in Q1: Economic activity shrunk 2.2% year on year on average in January–March, on the back of softer declines in the industrial and retail sales sectors as inflation cooled and consumer demand recovered. On top of that, a large fiscal stimulus at the outset of the year should have supported an overall improvement. However, the mobilization of troops likely exacerbated labor shortages, thus partly offsetting the stimulus. Moving to Q2, strong PMI data suggests economic momentum improved further in April, with lower inflation boding well for domestic demand and export orders recovering somewhat. Lower global energy prices should have hurt the external sector, however. Meanwhile, the war in Ukraine continues to hurt the economy: Direct war-related costs, ongoing Western sanctions and widespread emigration all bode ill for activity.

Russia Wages Chart

This chart displays Wages (ann. var. %) for Russia from 2013 to 2022.

Russia Wages Data

2017 2018 2019 2020 2021
Wages (ann. var. %) 3.5 7.0 2.7 2.4 2.8

Free sample report

Interested in economic reports, analysis and data? FocusEconomics provides data, forecasts and analysis for hundreds of countries and commodities. Request your free sample report now.

Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest