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|
|Source: State Statistics Service|
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