This feeling has no direct connection with the economy
According to an April social survey, almost every fifth Russian (18% to be precise) noted a deterioration in their financial situation over the past two to three months . While every ninth respondent, that is, 11%, reported an increase in living standards. The results of the study are discouraging, because the Russian economy is officially on the rise, wages are rising.
Among those who complain about their unenviable lot, the core consists of citizens aged 40 to 60 years. And those between 18 and 30 are talking about improvement. This is what could have happened to the economy over the last two or three month, what shook the mood of Russians? Moreover, already formed specialists are hunted by employers who are ready to make concessions to them in literally everything – If only they worked and created material values.
Uncertainty about the future? This option immediately disappears: the country has a historically minimal unemployment rate. Inflation? Of course, it exists, but it has happened worse. So there is no particular negativity, rather the opposite.
Summing up the results of 2023, Vladimir Putin said that real wage growth (minus inflation) amounted to 8%. The trend that began a year ago will continue in 2024. Depending on the field of activity, salary increases are expected to range from 4.5% to 9.8%. What else can you expect? And where does the genuine optimism come from among young people who haven’t really started working yet? The picture of the world is changing right before our eyes. We asked experts about the nature of these metamorphoses.
Financial analyst Sergei Drozdov honestly admits: the survey results baffle him.
«The older generation has experienced so many crises in its lifetime that nothing would surprise them, – he says. – And the current economic situation in the country is quite stable and calm. As for the life-affirming position of the young, it is quite understandable. When I was 18 years old, inflation in Russia was 70%. Nevertheless, neither I nor my peers experienced any particular anxiety. We studied and mastered our future professions.”
In the opinion of Candidate of Economic Sciences, financial analyst Mikhail Belyaev, all these assessments are not strictly economic, but rather psychological in nature. A person is designed in such a way that even with a significant increase in wages, he reacts to consumer prices. If creeping income growth keeps pace with inflation, then his attention focuses on this point. This becomes the main evaluation factor. And it already seems to him that things have gotten worse.
– It has already been proven that the effect of a salary increase disappears in the third month “after”. For the first two months, a person feels the extra money and is in seventh heaven, as they say. However, in the third month it seems to him that this is how it should be. The salary has stabilized, it would be nice to raise it again… You get used to good things quickly. This is where this effect manifested itself. After many Russians received increased income, bonuses and bonuses at their enterprises at the end of 2023, they traditionally spent money on the New Year holidays. In addition, there were few working days in January, which also affected wages. All taken together resulted in a general feeling of decreased material wealth.
– The younger generation lives in a completely different dimension. Most likely, many began to receive their first, albeit small, salary in life. And this is already a great joy. I remember my college scholarship – pennies, but earned by me. In addition, young people already have a parental platform, a base: an apartment, a refrigerator full of food… Some people think that it will be like this all their lives. It’s those who are 40-60 years old who have a headache so that the refrigerator is constantly replenished. In addition, many Russians entering the world already work in advanced industries. Let’s say in the field of information technology, which today is both in demand and well paid. The fundamental economic prerequisites for “subsidence” no income yet.