Circle Internet Group stock falls after first downgrade
Investing.com -- Russia’s real wages in 2024 saw the most significant increase in 16 years, due to a shortage of workers. The country is even considering importing workers from friendly nations.
Data from the Federal Statistics Service, published late Wednesday, and reported on by Bloomberg News, shows that the annual growth in real wages reached 9.1% last year. This is the highest growth rate since 2008. The global wage growth, estimated by the International Labour Organization, is considerably lower at 2.7%.
The worker shortage in Russia is forcing companies to continue raising salaries. The significant increase in wages is a direct response to the labor market conditions in the country. The lack of available workers has put pressure on companies to increase wages to attract and retain staff.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.