Page 22 - UKRRptJan21

The leading regions for average monthly wages were the city of Kyiv
(UAH17,592), Ukrainian-controlled Donetsk (UAH12,781) and the Kyiv region (UAH12,172). The largest nominal average wage increase was in medicine and social services (48.5% y/y),” other services” (43.0% y/y), and arts, sports, and entertainment (19.0% y/y).
Within the industrial sector, the highest growth of nominal wages was in electricity and gas supply (17.4% y/y), water supply (14.4% y/y), and the food industry (8.2% y/y).
Ukraine’s minimum wage increased on January 1 by $35, $212 per month. ​On December 1, it increased to $230. With the minimum wage largely used to calculate pensions, Ukraine’s average monthly wage is $480.
Real wages jumped 11% y/y in October,​ reports the State Statistics Service. Reflecting the impact of the coronavirus epidemic, the fastest growing wages were in healthcare — up 54%. The worst performing were in hotels and restaurants, where pay was stagnant.
Real income has been rising in 2020, helped by the extremely low inflation. However, in dollar terms real income has been stagnant as the hryvnia devalues and is stuck at about $430 per month.
In 2021 average monthly salary is to increase by 12% in 2021, from the current level of $427​ say economists, but at the same time inflation is expected to increase from c2.5% in 2020 to 7.3% over the course of 2021 which means real incomes in hryvnia terms will stagnate or may even fall.
Next year’s planned 30% hike in the minimum wage will be postponed five months​, until Dec. 1, Finance Minister Serhiy Marchenko confirms. The increase, to $228 a month, is being delayed to keep down inflation and to reduce the government budget deficit. Many government payments are indexed to the minimum wage.
22​ UKRAINE Country Report​ January 2021 ​ ​www.intellinews.com