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4.5.2 Nominal wages dynamics
The Cabinet of Ministers proposes the Verkhovna Rada to establish a subsistence minimum of UAH 2,393 ($89) from January 1, 2022, and a minimum wage of UAH 6,500 ($240) reported ukranews.com. It is envisaged that in 2022 the subsistence minimum wage from January 1 will be UAH 2,393 ($89), from July 1 – UAH 2,508 ($93), and from December 1 – UAH 2,589 ($96).
Real wages increase 11% y/y in August. Real wages in Ukraine rose 10.9% y/y in August, accelerating from 10.2% y/y growth in July, the State Statistics Service reported on September 28. The average monthly nominal wage amounted to UAH13,997 ($523), declining from UAH14,345 in July, or 2.2% m/m in real terms.
Evgeniya Akhtyrko of of Concorde Capital said in a note: “The high growth rate of wages is prompted by the economic revival and high demand for labor. We expect real wages will rise 8-9% y/y in 2021.”
The leaders for average monthly wages were the City of Kyiv (UAH20,358), and Ukrainian-controlled Donetsk (UAH14,848) and Kyiv (UAH14,228) regions. The largest average nominal wage increase was in hospitality and catering services (57.3% y/y), arts, sports and recreation (30.3% y/y), health care and social assistance (28.4% y/y) as well agriculture (28.3% y/y). Within the industrial sector, the highest growth of nominal wages was in metallurgy (25.4% y/y), pharmaceuticals (23.8% y/y) and the textile industry (19.4% y/y).
22 UKRAINE Country Report October 2021 www.intellinews.com