Real wages jump 11% yoy in October

Real wages in
Ukraine jumped 10.6% yoy in October, accelerating from 9.7% yoy growth in
September, the State Statistics Service reported on Nov. 27. The average
monthly nominal wage amounted to UAH 12,174 a month (USD 430), increasing from
UAH 11,998 in September, or 0.5% m/m in real terms.

The leading regions
for average monthly wages were the city of Kyiv (UAH 17,494), Ukrainian-controlled
Donetsk (UAH 13,544) and the Kyiv region (UAH 12,905). The largest nominal
average wage increase was in medicine and social services (54.0% yoy), “other
services” (42.1% yoy), and arts, sports, and entertainment (35.4% yoy).

Within the industrial
sector, the highest growth of nominal wages was in electricity and gas supply
(19.0% yoy), water supply (16.0% yoy), and machinery (9.8% yoy).

Evgeniya Akhtyrko: We
attribute the fast growth of real wages to the minimum wage being hiked to
UAH 5,000 a month starting Sept. 1,
relatively low consumer inflation, and the increased demand for labor amid economic
stabilization.