Russia’s wage growth has slowed despite the country experiencing its tightest labour market, in a further sign the wartime economy is cooling.
In November, salaries for new Russian hires rose just 6.9 per cent year-on-year, according to Financial Times analysis, a sharp slowdown from January’s 18.9 per cent.
This deceleration, even as unemployment remains at a record low of 2.2 per cent, points to growing imbalances in the Russian economy as the war in Ukraine drags on.
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