Unemployment rate declining in Ukraine - economy minister

"The unemployment rate among the population aged 15-70 years declined to 7.3% (compared with 8.0% in Q 3, 2018), and among the working age population - to 7.6%," the minister wrote on his Facebook page.

According to him, the number of unemployed people aged 15-70 years and of the working age decreased and reached almost the same level (1,329 people and 1,328 people, respectively).

At the same time, Mylovanov stressed that over the reporting period, the number of employed people aged 15-70 years grew to 16.91 million people and the working age population - up to 16.21 million people (the employment rate made up 59.3% and 69.0%, respectively).

The minister also stressed that that the increase in employment rate and the decrease in unemployment rate took place due “primarily to the ongoing high economic activity."

In addition, according to Mylovanov, the volume of labor supply in the labor market was influenced by a further increase in pension insurance record needed for retirement, as well as the high dynamics of wage growth (real wages grew by 9.0% pp, labor productivity  - by 2.5% pp in Q 3, 2019).

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