Wages in Russia
The Russian economy recorded an average growth rate of 1.6% in the decade to 2022. In 2022, wage growth was -1.1%.
Russia Wages Chart
Note: This chart displays Wages (ann. var. %) for Russia from 2014 to 2023.
Source: Macrobond.
Russia Wages Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Wages (ann. var. %) | 2.7 | 2.4 | 2.8 | -1.1 | 7.6 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Russian wages projections for the next ten years from a panel of 3 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable wages forecast available for Russian wages.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Russian wages projections.
Want to get access to the full dataset of Russian wages forecasts? Send an email to info@focus-economics.com.