Russia Average Monthly Nominal Wages in Manufacturing - Forecast

Wages in Manufacturing in Russia is expected to be 39000.00 RUB/Month by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Wages in Manufacturing in Russia to stand at 44700.00 in 12 months time. In the long-term, the Russia Average Monthly Nominal Wages in Manufacturing is projected to trend around 51000.00 RUB/Month in 2020, according to our econometric models.


Forecast Data Chart
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Russia Labour Last Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 4.6 4.4 4.3 4.2 4.4 5.1
Employed Persons 72.7 72.8 72.5 71.7 72.2 72.7
Unemployed Persons 3.51 3.8 3.9 3.71 3.69 4.2
Employment Rate 59.9 60.38 65.9 60.74 60.71 66.2
Labor Force Participation Rate 62.9 63.14 69.4 63.33 63.33 69.7
Productivity -0.2 1.2 1.2 0.17 0.19 2
Job Offers 1753086 1356374 1525690 1451166 1557134 1600369
Wages 41140 40000 53000 42000 42800 56500
Wages in Manufacturing 39977 39000 42000 42600 44700 51000
Wage Growth 7 4.2 4.2 8.3 8.33 3.3
Minimum Wages 11163 11163 11163 12000 12000 12000
Population 147 147 147 147 147 148
Retirement Age Women 55 55 55 55 55 57
Retirement Age Men 60 60 60 60 60 62
Wages Low Skilled 18300 15200 15200 19500 14539 20000
Wages High Skilled 46100 42800 42800 46800 39958 47000
Living Wage Family 28300 29700 29700 31100 28296 31100
Living Wage Individual 20400 20312 37000 20345 20357 39200