October 14, 2009

Ukrainians Are Getting Poorer

According to Ukraine's State Statistics Committee (UKRSTAT), a real wage rate dropped by 11.3% as compared to the Q2 of 2008. A rising unemployment (9.9%) and a rampant inflation (16%) seriously damaged real incomes of Ukrainians. UKRSTAT reports that a real disposable income shrank by 8.3 in the Q2:2009 as compared the Q2:2008. If you look across provinces (oblast'), Kyiv province has the highest level of work compensation with average monthly salary of 3,126 hryvnia or 390 USD. The lowest level of salaries is in Ternopil province where on average you can get paid 1,443 hryvnia ($180) per month. UKRSTAT also reports that a construction industry that was severely hurt by the 2008 recession experienced the sharpest decline in the real wages among all industries. On average, the monthly wage rate dropped by 23.2% in the construction sector. Here is a graph that demonstrates a percentage change in the real wage rate in Ukraine between 2000 and 2009.

From UkraineWatch

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