The situation on the labor market

However, further wage growth will be hindered by the complex financial condition of enterprises and a high level of uncertainty. This is reported by the NBU.
 
The growth in the number of resumes practically stopped in the II quarter of 2023, while the number of vacancies continues to grow (except for the IT sector, where the situation is difficult). The increase in labor demand is partly due to seasonality, in particular, agricultural work, and partly to the mobilization of employees and increased difficulties in finding personnel. As a result, the number of applicants for one vacancy decreased significantly and in May 2023 was close to the level of May 2021.
 
In the II quarter of 2023, the majority of small and medium-sized companies (62%) paid salaries in full. At the same time, 32% stated that they had no financial reserves, and 16% were dismissing employees. Among large international companies, 90% paid their salaries in full, and only 5% of companies did not have financial reserves.
 
The NBU predicts a decrease in the unemployment rate in Ukraine from 24.5% to 20.9% this year compared to 2022.