Over three months (from April to June), the Russian salary fund reduced by almost 18% compared to the same period last year, according to the joint report on the state of the labor market Rabota.ru and Sberdannyh. In April and May, companies' spending on wages fell by 6 and 7.6%, respectively; in June, the salary fund in the country decreased by 4% compared to the same month last year, the report reads. In March, deductions from companies on salaries were still growing: compared to last year's figure, they grew by 1.7%.
The researchers emphasize that this is not directly about salaries, but about the salary fund. Its reduction can be associated with both job cuts and decreased remuneration while maintaining the number of staff. In general, incomes of 50% of the country's working population fell in the spring, the research says. 2.5% of employees
2.5% of employees faced job cuts and complete loss of earnings. As for the others, employers reduced their payments (salaries, bonuses, etc.).
The salary fund reduced most of all in the sphere of hotels and public catering (-27.8%). Travel agencies, the salary fund of which decreased by 23.9% in the spring compared to last year, ranked second. They are followed by the categories, such as personal services (-20.8%), rent and leasing (-18.8%), cinema (-18.6%), air transport (-17.3%), casinos (-16.2%), and insurance (-15.3%).
At the same time, the salary fund in the field of telecommunications, finance, in metallurgical companies, medicine and education, on the contrary, increased. In telecommunications, it grew by 11.3%, among metallurgists – by 5.2%, among doctors – by 2.1%.
In January-March 2020, Belarus; GDP amounted to 99.7% in comparable prices as against January-March 2019. Although Belarus' GDP gradually began to win back the January fall in February-March of this year, the index is nevertheless decreasing.
This conclusion is contained in the review "Economy of Belarus in February-March 2020" prepared by the experts of the research company InComeIn.
An example of many countries struggling with the coronavirus epidemic shows that the introduction of quarantine can not only stop the spread of the epidemic but also prevent serious economic consequences for the country and the population. The likelihood that enterprises in Belarus will not be able to partially or fully carry out their activities due to the coronavirus epidemic only increases.
According to the Department of Statistics of the Eurasian Economic Committee (EEC), the GDP of the Eurasian Economic Union (EAEU) countries grew by 1.4% in comparable prices over the past year. All main kinds of activities demonstrated growth. Passenger transportation, agriculture, and manufacturing showed the greatest growth.