Page 28 - UKRRptJun19

4.4 Labour and income
4.4.1 Labour market, unemployment dynamics
Source: ICU
Unemployment rate (%)
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 EFF
6.4 6.4 8.8 8.1 7.9 7.5 7.2 9.3 9.1 9.3 9.4 9.3 8.8
Unemployment has been falling but this hides a serious shortage of workers in the country after a fifth of the workforce emigrated to find better paid jobs abroad.
4.4.2 Nominal wages dynamics
Real wages in Ukraine grew 12.5% year-on-year in March, accelerating from a 10.7% y/y February advance, the nation's state statistics service Ukrstat reported on May 2.
The average monthly nominal wage amounted to UAH10,237 a month (4381), increasing from UAH9,429 in February, or 7.6% m/m in real terms.
The leading regions for average monthly wages were the city of Kyiv (UAH16,207), the Ukrainian-controlled Donetsk region (UAH11,365) and the Zaporizhia region (UAH10,496).
The largest nominal average wage growth was in science and technology (42% y/y), industry (27% y/y) and construction (26% y/y). Within the industrial sector, the highest nominal wages were in pharmaceuticals (UAH20,969), mining (UAH15,520), and electricity and natural gas supply (UAH15,215).
Evgeniya Akhtyrko at Kyiv-based brokerage Concorde Capital wrote in a note on May 3 that the acceleration of wage growth in March was mostly due to boosted wages in the industrial sector. "This trend is likely to indicate growing
28 UKRAINE Country Report June 2019 www.intellinews.com