Expert predicts increase in Russians’ income 05:08

The personnel shortage will cause Russians’ incomes to increase by 3-5% in 2024-2025. This forecast was given to socialbites.ca by Olga Asadchaya, director of the Employment Center of Synergy Corporation.

“Traditionally, the growth of Russian incomes lags behind the growth of inflation by 10-15%, and when inflation actually stops or enters a state of deflation (zero inflation – editor’s note), it outpaces it. In the face of a growing talent shortage in Russia, many businesses are considering salary increases as one way to attract candidates. Asadchaya noted that up to 40% of employers are considering the possibility of raising wages from 10% to 20% by 2024, and about 20% of employers are already increasing wages in a number of specialties.

According to him, there have been changes in the income level of the Russian population over the past 10 years, but whether it has increased or decreased is a debatable issue. The expert explained that the real income of the population decreased by 3.2 percent in 2015, 6 percent in 2016 and 2 percent in 2017. According to Rosstat, the Russian economy will grow by 3.6 percent in 2023, and the real disposable income of the population will increase by 5.4 percent. In the fourth quarter of 2023, real disposable income will increase by 8 percent annually. In the first quarter of 2024, the real disposable income of Russians will increase by 5.8 percent compared to the previous year.

According to Asadchi, for a more objective picture of the income dynamics of Russians, it is necessary to calculate the accumulated inflation rate over the past 10 years, taking into account various economic factors, not only inflation itself and nominal wage growth, but also changes in the cost of living and other socio-economic indicators.

Previously Siluanov stated We see that Russia is currently on the list of high-income countries.