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Company.
In his opinion, a reduction in the number of jobs is expected in such areas as the auto business, the production of household appliances, metallurgy, the production of fertilizers, and construction. At the same time, new jobs will appear in textile production, IT, and telecommunications.
4.5.2 Income dynamics
Real disposable income of Russians in 2Q22 remained resilient and declined by 0.8% year on year, as against a 1.2% decline seen in 1Q22, and despite a greater fall in real wages of 6.1% in May, according to the latest data from RosStat statistics agency.
Real wages in Russia fell 6.1% y/y in May of 2022, following a 7.2% decline in the previous month and more than market expectations of a 4.4% drop. It was the second straight month of decline in wages.
Meanwhile, average nominal wages rose 10% from a year earlier to RUB62,457. In dollar terms, thanks to the strong appreciation of the ruble, nominal wages increased to $943 per month in May from $777 the month before, adding to the improving
67 RUSSIA Country Report October 2020 www.intellinews.com
