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21 Mar, 11:55

Salaries growth in Russia remains high — Central Bank

"The December statistics on wages were also affected by partial rescheduling of annual bonus payments from 2025 Q1," the regulator added

MOSCOW, March 21. /TASS/. The unemployment rate in Russia remains record low while the rise in salaries is still high and above labor productivity, the Bank of Russia said after its Board meeting.

"The labor market remains tight. Unemployment is at its record lows. However, there is growing evidence of easing tightness. According to surveys, the share of enterprises experiencing labor shortages continues to shrink. In addition, labor demand in certain industries has been decreasing with a reallocation of employees across industries. Meanwhile, wage increases remain high and continue to outpace labor productivity growth," the Central Bank said.

"The December statistics on wages were also affected by partial rescheduling of annual bonus payments from 2025 Q1. This supported consumer demand at the beginning of 2025," the regulator added.