Russian Wage Growth Hits 16-Year Peak Amid Race to Find Workers
A worker in a meeting room in Moscow, Russia.
Photographer: BloombergThis article is for subscribers only.
Russia’s real wages in 2024 increased the most in 16 years as the country grapples with a lack of workers and even seeks to import them from so-called friendly countries, including Myanmar.
Annual growth in real wages reached 9.1% last year, the highest since 2008, according to Federal Statistics Service data published late Wednesday. This contrasts with the 2.7% globally estimated by the International Labour Organization.