Economist evaluated the situation in the Russian labor market 20:17

For ordinary workers, the situation of the labor market in Russia in 2023 was quite positive: the unemployment rate was falling, and the rate of increase in wages exceeded inflation. This opinion was expressed in a conversation with socialbites.ca by Candidate of Economic Sciences Viktor Lyashok, senior researcher at the Institute of Social Analysis and Forecasting of the Presidential Academy.

“Last year the unemployment rate and the time required to find a new job decreased, and wage growth was 7.8% faster than inflation, as Rosstat data shows. It is not surprising that this has led to increased consumption and a significant increase in retail turnover. At the same time, employers are also facing staff shortages,” said Lyashok.

According to economists’ predictions, in the current situation, in order to provide employment in the Russian Federation, the influx of immigrants and the resulting relaxation of migration policy will be necessary.

As evidenced by the review of the Ministry of Economic Development of the Russian Federation “On the current situation in the Russian economy” (available from socialbites.ca), the situation on the labor market in Russia remains stable in 2024. The unemployment rate returned to 2.9% of the workforce in January (3% in December 2023). In December last year, according to the latest operational data, the nominal salary of Russians increased by 16 percent annually, reaching 103,815 rubles, and increased by 8.5 percent in real terms, after an annual increase of 7.2 percent. November conditions

At the end of 2023, nominal wages increased by 14.1% on an annual basis, reaching 73,709 rubles, while real wages increased by 7.8% on an annual basis. At the end of last year, Russians’ real cash income increased by 4.6% annually, while their real disposable income increased by 5.4% annually.

Russians before warned About the responsibility to disclose colleagues’ salaries.

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Source: Gazeta

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