Putin: Real wages in Russia have increased by 10.1% since the beginning of the year

Real wages in Russia increased by 10.1% in the first five months of this year, the Russian president reported Vladimir Putin at a meeting on economic issues, TASS reports.

Photo: freepik.com by Racool_studio, PDM

The president also noted that the country maintains a record low unemployment rate, which was 2.4% in June. According to Putin, the Russian budget revenues for seven months reached 20 trillion rubles, which is 36% higher than the same period last year. He also emphasized the high level of consumer demand in the country.

The meeting was held via videoconference with the participation of representatives of the government and the Central Bank.

Clarifications

Unemployment — the presence in the country of people who constitute part of the economically active population, who are able and willing to work, but cannot find work.

Wages (worker’s remuneration) – remuneration for work or participation in work. Depending on the worker’s qualifications, complexity, quantity, quality and conditions of the work performed, as well as compensation and incentive payments; monetary compensation that the worker receives in exchange for his labor.

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