The National Bank of Ukraine (NBU) has improved its forecast for unemployment growth in 2020 to 9.4%, up from 10% in its July forecast, according to the central bank’s inflation report released on its website on Oct. 29 evening.
According to the National Bank, in 2021 the unemployment rate will decrease to 8.6%, and in 2022 – to 8.4%, while earlier this figure was expected at 9% and 8.8%, respectively.
In addition, the NBU revised its forecast for the growth of nominal wages in 2020 by 2019 to 8.9% (from 4.1% in the July report), and the real one – to 6.2% (from 6%).
The regulator expects that in 2021 the nominal wage will grow by 16.1% (14.4% in the July forecast), in 2022 – by 8% (9.9%), and the real wages will increase by 9.5% next year (8.1%), in 2022 – by 2.1% (4.5%).
