Real wages in Ukraine rose 19.7% y/y in April to $485

Real wages in Ukraine rose 19.7% y/y in April to $485
Ukraine's real wages in Ukraine jumped 19.7% y/y in April to $485 as incomes continue to rise, although high inflation is eating into the gains.
By bne IntelliNews May 31, 2021

Real wages in Ukraine rose 19.7% year on year in April, accelerating from 9.5% y/y growth in March, the State Statistics Service reported on May 28. The average monthly nominal wage amounted to UAH13,543 ($485), declining from UAH13,612 in March, or 1.2% month on month in real terms.  

The leaders for average monthly wages were the City of Kyiv (UAH20,422) as well as Kyiv (UAH13,908) and Ukrainian-controlled Donetsk (UAH13,886) regions. The largest average nominal wage increase was in hospitality and catering services (99.4% y/y), healthcare and social services (66.8% y/y) and real estate operations (52.5% y/y).  

Within the industrial sector, the highest growth of nominal wages was in the textile industry (60.1% y/y), machinery (47.1% y/y) and furniture production (37.8% y/y).  

“The accelerated growth of real wages in April was due to the low comparative base of April 2020 (-0.4% y/y),” Evgeniya Akhtyrko of Concorde Capital said in a note. “We expect real wages will rise 8-9% y/y in 2021. The growth of wages will be boosted by economic revival and rising demand for labour.”

 

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