The number of unemployed people fell by 220 thousand to 3.905 million from 4.125 million in the corresponding month of the previous year. Compared to June, the number of unemployed increased by 59 thousand from 3.846 million.
Real wages rose 4.6 percent year-on-year in July, following an upwardly revised 3.9 percent gain in June and beating market expectations of 3.1 percent. It was the sharpest increase in real wages since February 2014, as average nominal wages jumped 8.6 percent to RUB 39,355 while annual inflation rate slowed to 3.9 percent, the lowest since May 2012. Meanwhile, real disposable income dropped 0.9 percent.