Page 18 - UKRRptMar20

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
Last year, 600,000 people – about 3% of Ukraine’s workforce – left the country to find work​, Oleksiy Kredisov, managing partner of EY Ukraine, says citing a survey conducted by his professional services company. At the same time, candidates for vacancies inside Ukraine declined 3-fold.
Unemployment is falling from circa 10% to 7.3% as of the third quarter of 2019.​ As the economy begins to recover there are more jobs available but because about a fifth of the labour force has left the country to find work in EU countries, particularly Poland, there is a labour shortage in Ukraine, especially of qualified technicians and those with experience. The govt has launched various campaigns to try and encourage expat workers to return home, such as providing support for SMEs.
4.4.2​ Nominal wages dynamics
Nominal wages in January were up 16.1% year-on-year to UAH10,727 ($438.55),​ which represents a climb of about a third, or over $100 in dollar terms, over the previous January. .
And incomes feel like they go further thanks to the rapid fall in inflation in 2019; after the hyperinflation of the 1990s the populations of eastern Europe are
18​ UKRAINE Country Report​ March 2020 ​ ​www.intellinews.com