Ukraine reports 9.8% y/y real wage growth in September

Ukraine reports 9.8% y/y real wage growth in September
Real wages in Ukraine grew 9.8% year-on-year in September, accelerating from a 7.7% y/y growth in August / bne IntelliNews
By bne IntelliNews October 29, 2019

Real wages in Ukraine grew 9.8% year-on-year in September, accelerating from a 7.7% y/y growth in August, the nation's state statistics service Ukrstat reported on October 28.

The average monthly nominal wage amounted to UAH10,687 ($431) a month, increasing from UAH10,527 in August, or 0.7% month-on-month in real terms.

The leading regions for average monthly wages were the city of Kyiv (UAH15,626), the Ukrainian-controlled Donetsk region (UAH11,907), and the Kyiv region (UAH11,166). The largest nominal average wage growth was in industry (23.3% y/y), health care and social assistance (20.7% y/y), and professional, information and telecommunication services (19.3% y/y).

Within the industrial sector, the highest nominal wages were in pharmaceuticals (UAH19,166), mining (UAH16,643), and coke and oil production (UAH15,394).

Evgeniya Akhtyrko at Kyiv-based brokerage Concorde Capital wrote in a note on October 29
that real wage growth accelerated in September despite increased month-to-month inflation. The wages in industry are growing at the fastest rate even amid stagnating output growth.

This indicates high demand for labour in the sector, she added Concorde expects real wages to climb 9-10% y/y in 2019 (vs. 12.5% y/y in 2018).

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