Ukrainian real wages rise 10% y/y in July

Ukrainian real wages rise 10% y/y in July
Real wages in Ukraine rose 10.2% year on year in July, slowing from 12.9% growth y/y in June, according to the State Statistics Service
By by Cameron Jones in London August 31, 2021

Real wages in Ukraine rose 10.2% year on year in July, slowing from 12.9% growth y/y in June, according to the State Statistics Service on August 27. The average monthly nominal wage amounted to UAH14,345 ($527).

The leaders for average monthly wages were the City of Kyiv atUAH20,956 ($780), Ukrainian controlled Donetsk at UAH15,287 ($569) and Kyiv at UAH14,543 ($541). The largest average nominal wage increase was in hospitality and catering services (52.5% y/y), healthcare and social assistance (30.5% y/y), arts, sports and recreation (39.5%) and other services (30.5%).

Within the industrial sector, the highest growth was in production of rubber and plastics (21.6% y/y), machinery (21.2% y/y) and textile industry (20.8% y/y).

The growth rate for real wages is declining as the effect of the low comparative base of the previous year wears off, according to analysts at Concorde Capital. However, the growth of real wages remains high, driven by economic revival and a high demand for workers. Concorde Capital expects real wages will rise by 8-9% in 2021.

 

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