Wages In The Russian Economy: Levels And Dynamics
Journal: The European Proceedings of Social & Behavioural Sciences
Year: 2020

Wages are the most important livelihood for the Russian citizens. In 2018 Russian wages amounted to 59.3 % of all cash income. Wages are formed on the basis of labor costs taking into account the supply and demand mechanisms. Over a long period of time, the economies of developed countries have witnessed a real wage growth, thereby confirming the high efficiency of the modern post-industrial economy. In Russia, during market transformations in 1992, 1995 and 1999, there was a significant decreas