Ukraine's real wages increase 4% y/y in October

Ukraine's real wages increase 4% y/y in October

Real wages in Ukraine rose 4.0% year on year in October, slowing from 6.9% y/y growth in September / bne IntelliNews

By Cameron Jones in Kyiv December 1, 2021

Real wages in Ukraine rose 4.0% year on year in October, slowing from 6.9% y/y growth in September, the State Statistics Service reported on November 29. The average monthly nominal wage amounted to UAH14,045 ($533), declining from UAH14,239 in September, or 2.2% month on month in real terms.

The leaders for average monthly wages were the city of Kyiv (UAH20,481 ($754)), and Ukrainian-controlled Donetsk (UAH14,791) and Kyiv (UAH14,554) regions. The largest average nominal wage increase was in hospitality and catering services (27.2% y/y), arts, agriculture (27.0% y/y), as well as information and telecommunication (25.6% y/y).

Within the industrial sector, the highest growth of nominal wages was in pharmaceuticals (20.6% y/y), wood processing (17.4% y/y), rubber and plastics production (15.3% y/y).

Analysts at Concorde Capital attribute the slower growth rate of real wages in October to the increasing comparative base of the previous year as well as high consumer inflation. They also suppose that a 7.0% hryvnia appreciation in 10M21 is also a factor for slower wage growth as Ukrainian employers often use dollar equivalent of wages as a benchmark. "We expect real wages will rise 8-9% y/y in 2021," they said.

Related Content

Russia’s arms exports slump, Kremlin preparing for possible war with Nato

Ukraine invasion was ‘spontaneous’ and unplanned, Putin claims

Bulgaria’s interim PM Glavchev refuses to sign 10-year military support deal with Ukraine

Russia’s arms exports slump, Kremlin preparing for possible war with Nato

Ukraine invasion was ‘spontaneous’ and unplanned, Putin claims

Bulgaria’s interim PM Glavchev refuses to sign 10-year military support deal with Ukraine

Read in IntelliNews Pro

Get IntelliNews Pro

Related Content

Russia’s arms exports slump, Kremlin preparing for possible war with Nato

Ukraine invasion was ‘spontaneous’ and unplanned, Putin claims

Bulgaria’s interim PM Glavchev refuses to sign 10-year military support deal with Ukraine

Russia’s arms exports slump, Kremlin preparing for possible war with Nato

Ukraine invasion was ‘spontaneous’ and unplanned, Putin claims

Bulgaria’s interim PM Glavchev refuses to sign 10-year military support deal with Ukraine

Data

Dollar hits new high in Tehran ahead of international holidays

Iran’s currency markets recorded another surge in the US dollar, which reached IRR 787,500 on the open market on December 24, setting a new record high.

Russia’s CBR keeps key rate at 21% under pressure

In a surprise decision CBR governor Elvia Nabiullina kept interest rates on hold at 21% as she comes under mounting pressure from Russian President Vladimir Putin and the oligarchs who accuse her of destroying the economy.

Polish industrial production disappoints in November as output falls 1.5% y/y

Seasonally adjusted, output expanded 1.1% y/y in November, following a gain of 3.9% y/y the preceding month, GUS data showed.

Moldova's economy shrinks by 1.9% y/y in Q3

Economic performance was dragged down by agriculture, while manufacturing sector grew.

Kosovo's population down 12% since 2011

Falling population attributed to departure of many Kosovars to work abroad in search of a better life, a trend that persists across the Balkans.

Dollar hits new high in Tehran ahead of international holidays

Russia’s CBR keeps key rate at 21% under pressure

Polish industrial production disappoints in November as output falls 1.5% y/y

Moldova's economy shrinks by 1.9% y/y in Q3

Kosovo's population down 12% since 2011

Dismiss

Chat with usLiveChat