The number of Russians who say their salary does not cover basic spending has jumped by 20 percentage points in two years to almost half, a survey by recruiter Headhunter showed, as Moscow diverts record fiscal resources to funding its war in Ukraine.
You can live off minimum wage in Canada in some regions, if you're children-free. It gets harder with kids, though the state will cover some of it of you're low-income (Like a couple hundred per months, and virtually no income taxes).
I don't think minimum wage is intended to be enough to live on. If you start working as a teenager by the time you have to pay your living expenses it would be quite doubtful that you are still making minimum wage.
Then again, as they say, your milage may vary. In my part of the world there might as well be no minimum wage as even the most entry level positions are offering nearly double the minimum wage.
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The findings, from an October survey of almost 5,000 people, put Russia's economic woes in sharp focus and could give the authorities a headache in the run-up to March's presidential election, in which President Vladimir Putin is likely to extend his more than two decades in power.
Record-low unemployment this year is evidence of Russia's stark labour shortages, while the rouble's weakness has added to intense inflation pressure.
Interest rates, already at 13%, are expected to rise further to tackle inflation seen ending the year at around 7%, well above the Bank of Russia's 4% target.
Asked whether their salary was enough to cover basic spending, without taking into account income from second jobs or investments, just one in five Russians surveyed said yes.
The average monthly nominal wage earned by Russians was 71,419 roubles ($756) in July, Rosstat's statistics show.
Russia could miss its 2024 budget revenue target and be forced to hike business taxes if the rouble proves stronger than expected and optimistic economic assumptions fall short, analysts say.
Because in Europe everything is fine, isn't it? With the new war inflation is skyrocketing and a new interest raise is around the corner. Thank you EU.
I'm also interested in this. In fact all of this could be my fault, so I just want to check. The one thing we can be sure of is that it's not the Russian war that's causing any problems anywhere, right? Maybe it's the phase of the moon, or astrology
Inflation rate of the EU is at its lowest since October 2021.
Meanwhile the conversation rate is 99 Ruble for 1€.
So yes, thank you. We're actually doing pretty alright. But I'm sure your propaganda media tells you something very different.