NBU: Unemployment in Ukraine to remain at about 26% in 2023

15:41 Mon, 29 May

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06.Feb .2023 10:28

NBU: Unemployment in Ukraine to remain at about 26% in 2023

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The National Bank of Ukraine (NBU) predicts that unemployment will remain at about 26% in 2023, with a decrease in 2024 to 20%, and in 2025 to 17.6%, according to the inflation report of the regulator.

"In 2023, unemployment will remain at a high level (about 26%). In the future, it will decrease due to the expansion of demand for labor against the backdrop of a recovery in economic activity. In 2024, the unemployment rate is expected to fall to 20%, and in 2025 - to 17.6%," the central bank said.

The NBU expects that unemployment will remain above its natural level, given that the process of restoring production capacity and logistics routes will take a long time.

At the same time, it is predicted that salaries will grow slowly due to significant inflation, in particular, by 3.3% in 2023, and by another 6.5% and 4.3%, respectively, in the next two years, Interfax-Ukraine reports.