Real wages increase 6% yoy in August

Real wages in Ukraine increased 6.0% yoy in August,
accelerating from 5.1% yoy growth in July, the State Statistics Service reported
on Sept. 28. The average monthly nominal wage amounted to UAH 11,446 a month
(USD 416), declining from UAH 11,804 in July, or 3.0% m/m in real terms.

The leading regions for average monthly wages were the
city of Kyiv (UAH 16,795), Ukrainian-controlled Donetsk (UAH 12,660) and Kyiv
region (UAH 11,803). The largest nominal average wage increase was in “other
services” (27.3% yoy), medicine and social services (20.1% yoy), and arts,
sports and recreation (19.5% yoy).

Within the industrial sector, the highest growth of
nominal wages was in electricity and gas supply (22.6% yoy), water supply
(15.9% yoy), and wood, paper and polygraphy production (9.4% yoy).

Evgeniya Akhtyrko: Wages
continue to accelerate, implying that Ukraine’s labor market is in relatively
good shape despite the continuing contraction of the economy.
The wage growth will support private consumption, which should lead the revival
of the economy next year.