Page 26 - UKRRptMay21

4.5.2 Nominal wages dynamics
Real wages in Ukraine rose 9.5% y/y in March, accelerating from 7.6% y/y growth in February, the State Statistics Service reported April 28.
The average monthly nominal wage amounted to UAH13,612 ($490), increasing from UAH12,549 in February, or 6.7% m/m in real terms.
The leaders for average monthly wages were the City of Kyiv (UAH20,132), Ukrainian-controlled Donetsk (UAH15,907) and Zaporizhzhya (UAH13,721) regions. The largest average nominal wage increase was in healthcare and social services (52.0% y/y), arts, sports and recreation (33.8% y/y) and education (28.8% y/y).
Within the industrial sector, the highest growth of nominal wages was in metallurgy (22.1% y/y) pharmaceuticals (20.0% y/y), and mining (18.3% y/y).
“The growth of real wages accelerated significantly in March even despite increasing inflation. Apparently, the improvement in industrial production prompted the wage growth,” Evgeniya Akhtyrko of Concorde Capital said in a note. “We expect real wages will rise 8-9% y/y in 2021. The growth of wages will be boosted by economic revival and rising demand for labour.”
26 UKRAINE Country Report May 2021 www.intellinews.com