Real wages rise 11% yoy in Ukraine in December

Real wages in Ukraine grew 11.3% yoy in December,
speeding up from 10.8% growth in November, the State Statistics Service
reported on Jan. 28. The average monthly nominal wage increased to UAH 12,264 a
month (USD 519) from UAH 10,679 in November, or 15.1% m/m growth in real terms.

The leading regions for average monthly wages were the
city of Kyiv (UAH 18,869), the Kyiv region (UAH 13,259), and the
Ukrainian-controlled Donetsk region (UAH 13,177).

The largest nominal average wage growth was in
information and telecommunication (26.5% yoy), financial and insurance
activities (22.7%), and administrative personnel services (22.5% yoy). Within
the industrial sector, the highest average nominal wages were in
pharmaceuticals (UAH 21,392), supply of electricity and gas (UAH 20,180), and
mining (UAH 16,182).

Evgeniya Akhtyrko: December
deflation of 0.2% m/m contributed to the accelerated growth of wages in real
terms. Fast growth of wages amid declines in industrial production
implies high demand for labor in Ukraine.

According to our estimates, real wages increased 9.8%
yoy in 2019 (vs. 12.5% yoy in 2018).