The number of unemployed people fell by 240 thousand to 3.86 million from 4.1 million in the corresponding month of the previous year. Compared to September, the number of unemployed increased by 40 thousand from 3.82 million.
Real wages went up 4.3 percent year-on-year in October, following an upwardly revised 4.4 percent gain in September and beating market expectations of 2.8 percent. Average nominal wages jumped 7.1 percent to RUB 38,275 while the annual inflation rate slowed to 2.7 percent, the lowest since at least 1991. Meanwhile, real disposable income dropped 1.3 percent, more than a 0.3 percent decline in September.