Ukraine real wage growth accelerates to 12.5% yoy in March

Real wages in Ukraine grew 12.5% yoy in March,
accelerating from a 10.7% yoy February advance, the State Statistics Service
reported on May 2. The average monthly nominal wage amounted to UAH 10,237 a
month (USD 381), increasing from UAH 9,429 in February, or 7.6% m/m in real
terms.

The leading regions for average monthly wages were the
city of Kyiv (UAH 16,207), the Ukrainian-controlled Donetsk region (UAH 11,365)
and the Zaporizhia region (UAH 10,496).

The largest nominal average wage growth was in science
and technology (42% yoy), industry (27% yoy) and construction (26% yoy). Within
the industrial sector, the highest nominal wages were in pharmaceuticals (UAH
20,969), mining (UAH 15,520), and electricity and natural gas supply (UAH
15,215).

Evgeniya Akhtyrko: The acceleration of wage growth in March was mostly due to boosted
wages in the industrial sector. This trend is likely to indicate growing
competition for labor in the economy. We expect real wages to climb 9-10% yoy
in 2019.