"According to the National Bank, the unemployment rate will decrease and total 9.1% on average over the year. On the one hand, the resumption of economic activity will help normalize the rate, on the other hand, the decline will be hampered by the growth of business costs for salaries. However, in 2022, unemployment rate is expected to fall to the natural level - 8.5%,” reads the report.
The NBU forecasts that further economic recovery and rising social standards will support higher incomes. The nominal salary will increase by 17.8% in 2021 and 9.7% in 2022; the real salary will grow by 8.6% and 3.9%, respectively.
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