Unemployment falls to 7.1% in 3Q10

Unemployment in Ukraine fell to 7.1% in 3Q10 (ILO methodology), according to the State Statistics Committee. Mykyta Mykhaylychenko: This signifies a reduction from 7.9% in 2Q10 and 7.8% in 3Q09, although still well above the pre-crisis average of 5.5% for this period. Falling unemployment is apparently assisting in the recovery of domestic demand, which will play crucial role in the GDP growth acceleration in 2011.