About past, present and future of Ukraine

Main Business — The NBU predicts that unemployment will remain at the level of approximately 26% in 2023, with a weakening in 2025 to 17.6%

Business

The NBU predicts that unemployment will remain at the level of approximately 26% in 2023, with a weakening in 2025 to 17.6%

03 Feb, 2023
249
The NBU predicts that unemployment will remain at the level of approximately 26% in 2023, with a weakening in 2025 to 17.6%

Share this article


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.


The Odessa Journal

The Odessa Journal

more articles

Top article

The Ministry of Defense has signed a contract for the construction of a service center for repairing drones in Ukraine
War

The Ministry of Defense has signed a contract ...

Dmytro Kuleba: Ukraine and Croatia have agreed to use Croatian ports for exporting Ukrainian grain
Business

Dmytro Kuleba: Ukraine and Croatia have agree ...

New sanctions: Defence industry, political parties and individuals linked to oligarchs
Business

New sanctions: Defence industry, political pa ...

Volodymyr Zelensky: We are preparing for the next Ramstein meeting, we expect solidly grounded decisions to meet the prospects on the battlefield
War

Volodymyr Zelensky: We are preparing for the ...