Topilin announced the increase of salaries of Russians

Topilin announced the increase of salaries of Russians

MOSCOW, 4 Jul — RIA Novosti. During the first months of 2018, real salaries grew by almost 10%, said the radio station “Moscow speaking”, the Minister of labour and social protection Maxim Topilin.

“The decline in population of working age (happens in Russia. — Approx. ed.). We now have unemployment below 4%, this has never happened before. Real wages grow for three or four months of this year — almost 10%, this was not since the beginning of 2000-ies,” — said Topilin.

According to him, now in the labor market is out of balance and not enough “workers”.

Previously, the Central Bank reported that first-quarter growth of real wages amounted to 9.5%. The Bank suggested that this increase could be caused by, among other things, increased one-time payments of premiums to private companies.

According to Rosstat, the growth of real wages in the first five months of this year amounted to 9%. While the Ministry stated that they expect a sharp slowing of real wage growth to around 1% in 2019 from 6.3% in 2018.

Real income is the income less mandatory payments, adjusted for inflation.

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