Real wages of Ukrainians in April for the first time since March 2016 decreased by 0.5%
Coronavirus crisis completed a three-year period of income growth, state the National Bank.
The real incomes of Ukrainians will no longer increase as a result of the economic crisis of 2020. This is stated in the report on financial stability released on Wednesday, June 24, the National Bank.
“In the spring of 2020 stopped the growth of the real disposable income of households”, — stated in the report.
For the first time from March 2016 to April real wages decreased by 0.5% from the same period of 2019 due to low business activity and lower demand for labour.
At the same time, there has been a sharp increase in the social assistance: made pension payments due to coronavirus and passed their annual indexation.
“However, this did not have a significant positive impact on the incomes of the population”, — stated in the national Bank.
On the revenue said the drop in wages of labor migrants in March and April, she declined in dollar terms by 9%, although in four months still saw a slight increase.
“Thus, in 2020 three-year trend of income growth will stop. Fears of a second wave of pandemic coronavirus will curb the recovery of jobs,” — noted in the NBU.