Real wages expected to grow by 9.5% in 2021 – NBU

Real wages expected to grow by 9.5% in 2021 – NBU

Ukrinform
The National Bank of Ukraine (NBU) forecasts that real wages in Ukraine will grow by 6.2% in 2020 and by 9.5% in 2021.

The central bank released such data in its quarterly Inflation Report for October 2020, the NBU press service reports.

“After a short pause during strict quarantine measures, incomes of Ukrainians resumed growth. Further economic recovery and rising social standards will support this process. Nominal wages are expected to grow by almost 9% in 2020 and by 16% in 2021. Real wages will  increase by 6.2% and by 9.5%, respectively,” reads the report.

According to the report, the situation on the labor market is expected to improve. The unemployment rate after the growth to almost 10% in the second quarter will gradually return to neutral.

According to the State Statistics Service, the index of real wages in Ukraine in September 2020 increased by 4.3% compared to August 2020.

iy


Let’s get started read our news at facebook messenger > > > Click here for subscribe

While citing and using any materials on the Internet, links to the website ukrinform.net not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website ukrinform.net and to the website of a foreign media outlet. Citing and using materials in offline media, mobile apps, Smart TV are allowed only with written permission from Ukrinform. News and publications marked as "Advertisement" and "PR" and articles in the section "Releases" include promoted content, and an advertiser is responsible for the content.

© 2015-2021 Ukrinform. All rights reserved.

Website design Studio Laconica

Extended searchHide extended search
By period:
-