Russian salaries grow since August of last year, however, real incomes decline, only June they have not decreased, but not increased. In August, the real incomes decreased by 0.3% in annual terms in July – 0.9% (annual inflation in August slowed to the historical record of 3.3% versus 3.9% in July).
Official statistics do not always faithfully reflect the growth of wages of all citizens, the newspaper “Vedomosti” , citing a study of “Sberbank CIB”.
The fact that the statistics largely account for the large company, and there are usually pay more, and indexed salary more often. At the same time in small companies, including those where the pay privately, the average salary decreases, according to the study authors. For the fourth quarter of 2016, a decline of 7.7% yoy for the second quarter of 2017 – 1%. For example, it explains why wage growth has not increased retail turnover.
As recovery smaller companies will catch up in wage growth are large, believed in the “Sberbank CIB”, and real incomes in the fourth quarter of 2017 will grow by 1% and retail turnover by 7%, and people will begin to switch to more expensive products.
As for the real wage, its growth, they are obliged first and foremost to reduce the number of employees that affects the salaries of the remaining, says Igor Polyakov of the Center for macroeconomic analysis and short-term forecasting. Moreover, official salaries ensure 42-44% of revenues.
In large and medium-sized companies have 79% of official workers (the bulk of the payroll, WAGE), 11% for small and micro enterprises.
The study also noted that real wages grow at the expense of only certain sectors of the economy. It’s not a total upgrade of 2010-2011, when grown and the public sector, and the tradable sector of the economy.
Part of the growing sectors of extractive industries, processing, transport, wholesale trade and banking. According to Polyakov, the sectors supported by retail and provided the General trend of salaries growth. In the public sector wages are not indexed, and regrouped to fulfill may decrees of President Vladimir Putin. Salaries of civil servants do not grow for the third consecutive year.
Chief economist BCS Vladimir Tikhomirov after analysts at Sberbank CIB explains the decline in real income, with a record slowdown in inflation methodology of Rosstat. Government statistics take into account only large and medium-sized enterprises. Therefore, if a large company was the increase of salaries, the overall figure is growing.