Real incomes of Russians continued to fall

Real disposable income of Russians (that is, the money that is left on the hands after all required payments and can be spent on their own needs or deferred to the future) fell in may 2016 at an annual rate of 5.7 percent, according to Rosstat.

Compared to the previous month the decrease of revenues slowed somewhat in April they fell by 7%, which was the worst result since may 2015), however the rate of decline remains high. For comparison, in March 2016, the incomes of Russians fell by 1.3%, in February — by 4.3%, in January — also 5.7%.

Incomes are falling, despite the fact that to compare their current level of Rosstat has already heavily fallen figures. According to official data, the continuous decline in the incomes of Russians continues more than two years in a row — the last time their growth in annual terms was recorded in October 2014. In may 2015 the real incomes of the population decreased from 7.7%.

In nominal terms, the same income of the average Russian compared to last year increased slightly. By the end of may 2016, they amounted to slightly more than 28 thousand rbl. that on 1,1% more than in may 2015. The average monthly salary at the end of may 2016, made up 36,57 thousand rubles, which is 6.2% more than in the first month of 2015, however, the real wages, the purchasing power derived from employer money decreased while the 1%.

According to Rosstat, in January 2016, the number of unemployed in Russia amounted to 4,303 million, or 5.6% of the economically active population. Compared to may 2015 total number of unemployed in Russia grew by 0.3%.

Last week Rosstat has informed that in the first quarter of 2016, the number of poor in Russia has grown in comparison with the end of 2015) of 8.3 million people. Below the poverty line by the end of March 2016 lived every sixth Russian, or 15.7% of the total population of the country.