Real wages increase 11% yoy in August

Real wages in Ukraine rose 10.9% yoy in August,
accelerating from 10.2% yoy growth in July, the State Statistics Service reported
on Sept. 28. The average monthly nominal wage amounted to UAH 13,997 (USD 523),
declining from UAH 14,345 in July, or 2.2% m/m in real terms.

The leaders for average monthly wages were the City of
Kyiv (UAH 20,358), and Ukrainian-controlled Donetsk (UAH 14,848) and Kyiv (UAH
14,228) regions. The largest average nominal wage increase was in hospitality
and catering services (57.3% yoy), arts, sports and recreation (30.3% yoy),
health care and social assistance (28.4% yoy) as well agriculture (28.3% yoy).

Within the industrial sector, the highest growth of
nominal wages was in metallurgy (25.4% yoy), pharmaceuticals (23.8% yoy) and
the textile industry (19.4% yoy).

Evgeniya Akhtyrko: The high
growth rate of wages is prompted by the economic revival and high demand for
labor. We expect real wages will rise 8-9% yoy in 2021.