The Volume of Wages in Arrears Is on the Rise
In September 2013, the average nominal monthly charged wage per worker amounted to Rb 29,811, thus having increased on August by 2%.
The low rate of inflation (over September, consumer prices increased on August by only 0.2%) resulted in a situation where growth of the real average monthly charged wage occurred at a rate slightly lower than that of the nominal monthly charged wage, or 1.8%.
As no further pension indexation has been introduced since April, the average allotted monthly pension in September 2013 remained practically at its August level, thus amounting to Rb 10,045. In real terms, the average monthly pension amounted to 99.9% of its August value.
The slight increase of the average monthly wage alongside pension stability produced no corresponding growth of the population’s nominal per-capita monthly money income - a phenomenon that appears to be largely the result of shrinkage of other types of the population’s income, and to a lesser degree – of rising wages in arrears.
The volume of wages in arrears over September 2013 increased on August by 6.1%, thus amounting to a total of Rb 2,679m. This index was pushed up by the increased number of workers whose earnings were in arrears – from 77 thousand to 83 thousand, while the amount of arrears of wages per employee remained practically unchanged.
The population’s nominal per capita money income in September 2013 amounted to Rb 24,209, which represents a 3.6% decline on August 2013. Over the course of September, the real disposable money income of the population dropped by 4.3% compared with August
On the whole over the first 9 months of 2013, the average monthly wage in nominal terms increased on the corresponding period of the previous year by 13.2%, the average allotted monthly pension – by 9.7%, and the population’s average monthly per capita money income in nominal terms – by 11.0%. When taken in real terms, growth of the population’s money income over the first 9 months of 2013 is as follows: the average monthly wage rose by 5.9%; the average pension – by 2.7%; and the population’s average monthly money income – by 3.6%.
S.G. Misikhina – Leading Researcher