The National Bank of Ukraine (NBU) predicts that unemployment will remain at the level of almost 26% in 2023, with a decrease to 20% in 2024, and to 17.6% in 2025, according to the regulator's Inflation Report.
"Throughout 2023, unemployment will remain high (about 26%). In the future, it will decrease thanks to the expansion of labor demand against the backdrop of a revival of economic activity. It is expected that the unemployment rate will decrease to 20% in 2024 and to 17% in 2025, 17.6%," the central bank noted.
The NBU expects unemployment to remain higher than its natural level, given that restoring production capacities and logistics routes will take a lot of time.
At the same time, wages are projected to grow slowly due to significant inflation, particularly by 3.3% in 2023, and by 6.5% and 4.3% in the next two years, respectively.
