Unemployment rate in Ukraine down 0.1pps to 2% in March.

By bne IntelliNews April 16, 2013

The unemployment rate in Ukraine declined by 0.1pps to 2% in March, State Statistics Service has announced. As of April 1, the State Employment Service registered 571,600 unemployed people, whereas a month ago their number was 589,100. In March, 450,300 unemployed people were receiving government aid, the average unemployment compensation was UAH 1,194 per head that month. The highest number of those unemployed is among women - 301,500, compared to 270,100 unemployed men. There were 325,400 jobless in towns and cities and 246,200 in villages.

The international labor organization states that the real figures are at least three times as high as the official ones. We believe that the main reason behind the understated statistics, is large shadow economy that exists in the country.

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