Real wage growth slows to 9.7% y/y in December

Real wage growth slows to 9.7% y/y in December
Real wages in Ukraine grew 9.7% y/y in December, slowing from a 11.4% y/y surge in November
By bne IntelliNews January 29, 2019

Real wages in Ukraine grew 9.7% y/y in December, slowing from a 11.4% y/y surge in November, the State Statistics Service reported on January 28.

The average monthly nominal wage amounted to UAH10,573 a month ($380), surging from UAH9,161 in November, or 14.5% m/m in real terms.

The leading regions for average monthly wages remained the city of Kyiv (UAH16,546), the Ukrainian-controlled Donetsk region (UAH11,298) and the Kyiv region (UAH11,146).

The largest nominal average wage growth was in construction (29% y/y), administration services (28% y/y) and industry (24% y/y). Within the industrial sector, the highest nominal wages were in pharmaceuticals (UAH18,075), electricity and natural gas (UAH15,875), and computer and electronics production (UAH14,246).

“The month-to-month surge in wages is typical in December due to traditional bonus payments at the year end. Real wages grew 12.5% y/y in 2018 (vs 19.1% y/y in 2017), according to our estimates. We expect real wages to climb 9-10% y/y in 2019,” Evgeniya Akhtyrko of Concorde Capital said in a note.

Data

Dismiss