The number of unemployed people declined by 372 thousand to 3.918 million from 4.290 million in the corresponding month of the previous year. Compared to December, the number of unemployed increased by 41 thousand from 3.877 million.
Real wages in Russia rose 6.2 percent year-on-year in January, the same pace as in the previous month and above market expectations of 4.6 percent. Average nominal wages jumped 8.5 percent to RUB 38,400 while annual inflation rate dropped to a new record low of 2.2 percent. Meanwhile, real disposable income was unchanged from a year earlier, after a 1.4 percent fall in December.