29.Apr .2021 22:30

Unemployment in Ukraine Expected to Decrease to 9.1% in 2021

Unemployment in Ukraine Expected to Decrease to 9.1% in 2021
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The National Bank of Ukraine (NBU) projects that the unemployment rate in Ukraine in 2021 will fall to 9.1% on average and to 8.5% in 2022. The nominal salary is expected to increase by 17.8% in 2021 and 9.7% in 2022.
 
"According to the National Bank, the unemployment rate will decrease and total 9.1% on average over the year. On the one hand, the resumption of economic activity will help normalize the rate, on the other hand, the decline will be hampered by the growth of business costs for salaries. However, in 2022, the unemployment rate is expected to fall to the natural level - 8.5%,” reads a quarterly inflation report of the National Bank of Ukraine (NBU) for April 2021.
 
Pursuant to Moody’s Analytics, the unemployment rate of Ukraine for Q4 2020 reached 10.1%, up from 9.5% from Q3 2020. 
 
The NBU forecasts that further economic recovery and rising social standards will support higher incomes. The nominal salary will increase by 17.8% in 2021 and 9.7% in 2022; the real salary will grow by 8.6% and 3.9%, respectively.