The national Bank expects a significant slowdown in the growth of wages
In the next three years, the growth rate of nominal wages in Ukraine will fall below 10%. About it writes “RBC-Ukraine” with reference to the Inflation report National Bank of Ukraine.
The review States that the growth of wages in real terms (adjusted for inflation) will slow to 4%, which would correspond to productivity growth in the economy and will not create additional inflationary pressures.
“The slowdown in migration processes (incl. due to the gradual saturation of the labor market of Poland on the background of a cooling economy in the EU) and the correction of the imbalances in the labour market will be gradually to reduce the pressure on wage increases”, – stated in the message of the national Bank.
According to the forecast, the unemployment rate until the end of 2021 is expected to reach 8.7 per cent (according to ILO methodology), which is close to the estimated natural level. Very high level of natural unemployment is determined by structural factors, in particular the mismatch of workers with the qualification requirements of employers and migration processes.
The average nominal salary of full-time Ukrainian worker in March of current year has grown in comparison with March of last year, 22.1% – to UAH 10237.
VV the article said that compared with February the average salary in March rose by 8.6%. While real wages in March 2019, compared with February rose by 7.6% as compared to March last year – 12.5%.
According to the state statistics Committee, the average nominal salary of full-time employee in Ukraine in March of this year, 2.5 times higher than the minimum wage, which is UAH 4173. At the end of March, the average salary in Kiev was UAH 16207.
We will remind, what keeps a third of the economy of Ukraine: “this was not 10 years.”
As reported Politeka, Ukrainians made up the lion’s share of foreign workers in Lithuania.
Also Politeka wrote that about a million Ukrainian citizens have emigrated to Poland.