In Ukraine has become worse with work and wages – NBU

Business cautious because of the risk of a new wave of coronavirus

During the quarantine, the unemployment rate in Ukraine has increased, and wage growth virtually stopped. And despite gradual economic recovery, the situation on the labour market will come to normal slowly – the business remains cautious because of the risk of the second pandemic. To such conclusions came the national Bank of Ukraine (NBU) in the inflation report.

“The main factor reducing the demand for labor was the quarantine restrictions on the activities of individual sectors and, therefore, the decline in the economy. At the same time in the background of the easing of quarantine measures in mid-may, the demand for labour gradually began to recover”, – noted in the NBU.

According to the national Bank, an interest in finding work restored not only in the domestic market and abroad, aided by the partial opening of borders.

Millions of Ukrainians are faced with hidden unemployment

At the same time, the growth of real wages in Ukraine will resume in the next year, predict in the NBU.