NBU expects unemployment to remain at about 26% in 2023, with weakening in 2025 to 17.6%
The National Bank of Ukraine (NBU) predicts that unemployment will remain at about 26% in 2023, with a decrease in 2024 to 20%, and in 2025 to 17.6%, according to the inflation report of the regulator.
"In 2023, unemployment will remain at a high level (about 26%). In the future, it will decrease due to the expansion of demand for labor against the backdrop of a recovery in economic activity. In 2024, the unemployment rate is expected to fall to 20%, and in 2025 - to 17.6%," the central bank said.
The NBU expects that unemployment will remain above its natural level, given that the process of restoring production capacity and logistics routes will take a long time.
At the same time, it is predicted that salaries will grow slowly due to significant inflation, in particular, by 3.3% in 2023, and by another 6.5% and 4.3%, respectively, in the next two years.
Advertising
Advertising
MORE ABOUT
Four MPC members expect reduction of key policy rate to 11.5-12% by late 2024, remaining 7 expect fall to 13% – NBU
13:58, 06.05.2024
NBU develops alternative scenario in case of higher security risks with GDP growth in 2025 by 3.3%
11:03, 06.05.2024
NBU lifts restrictions on import of works, services; introduces other currency concessions
21:01, 03.05.2024
NBU requires Getin Holding to sell Idea Bank within six months
10:09, 03.05.2024
NBU completing development of bill on war risk insurance system in Ukraine
16:21, 30.04.2024
LATEST
Naftogaz Group receives UAH 23.1 bln net profit in 2023 against UAH 79.1 bln loss in 2022
12:52, 07.05.2024
After opening of sea exports, Metinvest increases workload of factories, directs efforts to retain teams – HR Director
20:17, 06.05.2024
Kamet Steel plant carrying out major overhaul of cable rack at coke chemical division for uninterrupted power supply
19:52, 06.05.2024
Business expectations in Ukrainian construction market in Q2 decrease by 1.1 pp – statistics
19:16, 06.05.2024
New EU sanctions will apply to supplies of manganese ore and aluminum oxide to Russia – Latvian authorities