Real wages in Ukraine dropped 0.4% y/y in April, after growing 9.3% y/y in March

Real wages in Ukraine dropped 0.4% y/y in April, after growing 9.3% y/y in March
Real wages in Ukraine dropped 0.4% y/y in April, after growing 9.3% y/y growth in March, nominal wages were down 9.6% too
By bne IntelliNews May 29, 2020

Real wages in Ukraine dropped 0.4% year on year in April, after growing 9.3% y/y in March, the State Statistics Service reported on May 28. The average monthly nominal wage declined to UAH10,430 a month ($383) from UAH11,446 in March, or -9.6% month on month in real terms.

The leading regions for average monthly wages were the city of Kyiv (UAH15,278), Ukrainian-controlled Donetsk region (UAH12,473) and Kyiv region (UAH10,797).

The largest nominal average wage decline was in hospitality and restaurant services (-46.4%), real estate services (-13.1% y/y), and information and telecommunication services (-10.7% y/y). Within the industrial sector, the highest decline of nominal wages was in the textile industry (-31.6% y/y), machinery (-16.1% y/y) and furniture manufacturing (-13.9% y/y).

Meanwhile, nominal wages jumped the most in electricity and gas distribution (14.5% y/y), water utilities (12.8% y/y) and coke and oil production (7.5% y/y).

“The severe quarantine measures that were in place the whole month of April resulted in significant cooling of business activity and dropping wages. However, the decline was not devastating and mostly affected those sectors in which activity was largely prohibited. Meanwhile, the enterprises involved in support services were less affected, as well as those with a continuous production cycle,” Evgeniya Akhtyrko of Concorde Capital said in a note. “We are likely to see a similar wage trend in May, as quarantine and lockdown restrictions were in place for the most of the month.”

Data

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