Real wages jump 10% yoy in September

Real wages in Ukraine increased 9.7% yoy in September,
accelerating from 6.0% yoy growth in August, the State Statistics Service
reported on Oct. 28. The average monthly nominal wage amounted to UAH 11,998 a
month (USD 429), increasing from UAH 11,446 in August, or 4.3% m/m in real
terms.

The leading regions for average monthly wages were the
city of Kyiv (UAH 17,253), Ukrainian-controlled Donetsk (UAH 12,981) and the
Kyiv region (UAH 12,109). The largest nominal average wage increase was in
“other services” (37.7% yoy), medicine and social services (29.1% yoy), and
education (20.7% yoy).

Within the industrial sector, the highest growth of
nominal wages was in electricity and gas supply (25.4% yoy), water supply (20.0%
yoy), and wood, paper and polygraphy production (11.4% yoy).

Evgeniya Akhtyrko: Apparently, the rise of the minimum wage to UAH 5,000 a month starting Sept. 1 was an additional factor
in wage growth accelerating significantly. In particular, medicine and
education are sectors where the level of wages is highly dependent on the
minimum wage. The wage growth will support private consumption, which should
lead the revival of the economy next year.