The growth of wages in Russia in real terms in the first quarter amounted to 1.6%

Growth in real wages adjusted for inflation in the first quarter amounted to 1.6% in annual terms, Interfax reports with reference to the unified interdepartmental statistical data system of Rosstat.

The dynamics of growth in real wages has slowed down:

  • in the fourth quarter of 2020, growth was 2.2% in annual terms;
  • in the third quarter – 1.8%;
  • in the second quarter of 2020 there was a decrease of 0.1%;
  • in the first quarter of 2020 – an increase of 6.2%.
  • In general, in 2020, salaries in real terms increased by 2.5% compared to 2019.

According to Rosstat, the average monthly wage in nominal terms in March 2021 amounted to 55 thousand 208 rubles. against 51 thousand 229 rubles. in February 2021 and 50 thousand 948 rubles. in March 2020. The government’s official forecast for real wage growth in 2021 is 2%.

In May, Russian presidential aide Maxim Oreshkin said he expects a full recovery of the labor market in the country to pre-crisis levels by the end of 2021. Earlier, President Vladimir Putin set a task to restore the labor market to 2019 indicators by the end of this year.

Real wages of Russians in February of this year increased by 2% compared to February last year, Rosstat reported earlier. According to the service, the average monthly nominal salary was 51,229 rubles.

Unemployment in March, according to Rosstat, amounted to 5.4%. 4.1 million people aged 15 and over were recognized as unemployed, 1.7 million of them are registered at labor exchanges.

Read more in the publication of “Kommersant” “The economy emerged from the pit of the crisis.”