Ukraine's real wages increase 11% y/y in August

Ukraine's real wages increase 11% y/y in August
Real wages increase 11% y/y in August / bne IntelliNews
By Cameron Jones in London September 30, 2021

Real wages in Ukraine rose 10.9% year on year in August, accelerating from 10.2% y/y growth in July, the State Statistics Service reported on September 28. The average monthly nominal wage amounted to UAH13,997 ($523), declining from UAH14,345 ($526) in July, or 2.2% m/m in real terms.

The leaders for average monthly wages were the City of Kyiv (UAH20,358 ($758)), and Ukrainian-controlled Donetsk (UAH14,848 ($564)) and Kyiv (UAH14,228 ($526)) regions. The largest average nominal wage increase was in hospitality and catering services (57.3% y/y), arts, sports and recreation (30.3% y/y), healthcare and social assistance (28.4% y/y) as well agriculture (28.3% y/y).

Within the industrial sector, the highest growth of nominal wages was in metallurgy (25.4% y/y), pharmaceuticals (23.8% y/y) and the textile industry (19.4% y/y).

The high growth rate of wages has been prompted by the current economic recovery and a high demand for labour. Analysts at Concorde Capital expect real wages will rise 8-9% y/y in 2021.