"The growth rate of the average nominal wages will slow down (about 16% this year and to 9% in 2021), both due to the weakening of the labor outflows to the EU countries and reducing the rate of wage convergence. The real wages will grow by 7% in 2019, and in the future their annual growth will slow down to 4%," reads the Inflation Report for January 2019, the press service of the NBU reports.
At the same time, the NBU notes that the still high level of unemployment (8.5–8.7%) on the forecast horizon is underpinned by the slow pace of economic growth against the background of tight monetary and fiscal policies.
The slowdown in migration processes and the equalization of labor market imbalances will relieve the pressure on wage growth.
Let’s get started read our news at facebook messenger > > > Click here for subscribe