Ukraine’s wages and job loss trends during the war

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Many statistical reports in Ukraine have been suspended since the start of Russia’s invasion, including on labour markets. This column uses wage payments data from one of Ukraine’s largest commercial banks to overcome this challenge. Since the start of the war, nominal wages have managed modest growth, amounting to 3% by end-October. However, wages dropped 11% in real terms over the January to October period and their decline has accelerated to 18% in the past month. Furthermore, 13% of hired employees have lost their job since the start of the war and there is evidence of increasing job losses.

Published on VoxEU / CEPR