Official unemployment rate in Ukraine down 0.1pps to 1.4% in October.

By bne IntelliNews November 18, 2013

In October, the official unemployment rate went down by 0.1pps to 1.4%, the State Statistics Service has announced. As of November 1, the State Employment Service registered 394,600 unemployed people. The number of unemployed people, who received state aid in October, was 305,800; the average unemployment benefit was UAH 1,159 per head that month.

According to Social Policy Minister Natalia Korolevska the unemployment rate under the International Labor Organization methodology has reduced to 7.5% in H1 compared to 7.8% seen in H1/2012.

The international labor organization states that the real figures are at least three times as high as the official ones. The IMF estimates unemployment rate stood at 8.0% as of Dec 31, 2012, and expects it to go up to 8.2% by the end of 2013. We believe that the main reason behind the understated statistics, is large shadow economy that exists in the country.

  Number of  registered unemployed, at the end of reference period Average unemployment benefit for month, UAH
thsd.  person percent of the total population in working age
Total of which, those who receive unemployment benefit
January 2012 520.9 398.4 1.9 917
December 2012 506.8 386.3 1.8 1,028
January 2013 564.5 435.8 2.0 1,089
February 2013 589.1 469.1 2.1 1,069
March 2013 571.6 450.3 2.0 1,194
April 2013 534.7 408.5 1.9 1,116
May 2013 501.0 384.3 1.8 1,119
June 2013 465.3 360.3 1.7 1,087
July 2013 451.5 353.5 1.6 1,133
August 2013 435.4 339.4 1.6 1,136
September 2013 422.1 326.9 1.5 1,108
October 2013 394.6 305.8 1.4 1,159
Source: State Statistics Service      

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