Real wages increase 10% yoy in July

Real wages in Ukraine rose 10.2% yoy in July, slowing
from 12.9% yoy growth in June, the State Statistics Service reported on Aug.
27. The average monthly nominal wage amounted to UAH 14,345 (USD 527), growing
from UAH 14,313 in June, or 0.1% m/m in real terms.

The leaders for average monthly wages were the City of
Kyiv (UAH 20,956), and Ukrainian-controlled Donetsk (UAH 15,287) and Kyiv (UAH
14,543) regions. The largest average nominal wage increase was in hospitality
and catering services (52.5% yoy), health care and social assistance (30.5%
yoy) arts, sports and recreation (39.5% yoy), as well as other services (30.5%
yoy).

Within the industrial sector, the highest growth of
nominal wages was production in rubber and plastics (21.6% yoy), machinery
(21.2% yoy) and textile industry (20.8% yoy)

Evgeniya Akhtyrko: The growth rate for real wages is declining as the effect of the low
comparative base of the previous year wears off. Nevertheless, the growth of
real wages remains high, driven by the economic revival and high demand for
labor force. We expect real wages will rise 8-9% yoy in 2021.