Due to the war, the tense situation in the labor market will continue for the time being, but a significant shortage of personnel and competition for qualified workers create conditions for raising wages. This is reported by UNN with Reference to the report of the National Bank of Ukraine.
Details
The NBU's inflation report states that in the current conditions of countering Russian aggression, there are not enough employees in a number of areas.
Finding an employee for the required position is becoming increasingly difficult due to the consequences of the war, primarily migration and mobilization. Among other things, candidates ' experience, skills, and requests often do not match job offers.
Thus, competition for qualified employees is growing. Businesses respond to this by raising salaries.
The NBU report notes that the tense situation on the labor market will continue for some time. Then, at the stage of rebuilding the country, businesses will compete for new employees, which is more active.
As a result, unemployment will gradually decrease, and wages will grow quite quickly. NBU predicts that in 2025 real wages will exceed their pre-war level