Real wage growth accelerates to 7% yoy in May
2 July 2019
Real wages in Ukraine grew 7.0% yoy in May, slowing
from an 11.2% yoy April advance, the State Statistics Service reported on June
27. The average monthly nominal wage amounted to UAH 10,239 a month (USD 388),
decreasing from UAH 10,269 in April, or 1.0% m/m in real terms.
The leading regions for average monthly wages were the
city of Kyiv (UAH 15,157), the Ukrainian-controlled Donetsk region (UAH 11,391)
and the Kyiv region (UAH 10,776).
The largest nominal average wage growth was in
information and telecommunications (22.8% yoy), construction (22.5% yoy) and
industry (22.4% yoy). Within the industrial sector, the highest nominal wages
were in pharmaceuticals (UAH 18,888), mining (UAH 15,408), and coke and oil
production (UAH 15,292).
Evgeniya Akhtyrko: Apparently,
stronger consumer inflation contributed
to slower growth of real wages in May. Weak industrial growth was another
factor. The month-to-month decrease in nominal wages is likely to have resulted
from fewer working days in May this year (18 days in May vs. 21 days in April).
We expect real wages to climb 9-10% yoy in 2019 (vs.
12.5% yoy in 2018).
