Unemployment in Ukraine grows by 67% since coronavirus outbreak

Ukraine's State Employment Service says the number of unemployed in Ukraine has grown by 67% since the outbreak of coronavirus.

"Hundreds of thousands of citizens have become unemployed: both representatives of intellectual labor and ordinary professions. Since the beginning of the quarantine (from March 12 to August 20), 431,800 people have received unemployed status, which is 67% more year-over-year," the agency says.

The work of enterprises and organizations throughout the country is being restored. As a result, the number of registered unemployed is gradually decreasing and the number of vacancies submitted to the employment service is growing.

Read alsoSecond wave of COVID-19 may raise unemployment in Ukraine to about 15% – expertsIn April, 149,000 people received the status of unemployed, in May their number was 97,000 people, 75,000 in June, and 68,000 in July. During the quarantine period, specialists of employment centers did not stop selecting suitable vacancies for the unemployed, as well as qualified personnel for employers. For five months of quarantine, 245,000 citizens have been employed.

According to the report, employers submitted 61,000 vacancies to employment centers in July, which is 5% more than in June, and 18,000, or 40% more than in April this year. As of mid-August, nine unemployed people applied for one job. This means that employers looking to increase their staff may find employees using the employment center services.

As of August 20, almost 488,000 Ukrainians have the status of unemployed (against 276,000 y-o-y), while 411,000 citizens receive unemployment benefits.

Unemployment in Ukraine: background

The National Bank of Ukraine predicted a peak unemployment rate for the second quarter – up to 11.5%, after which in H2 2020, the rate will decline but remain above last year's level by year-end, while standing below 10%.

According to the new consensus forecast released by the Ministry for Development of Economy, Trade, and Agriculture of Ukraine, unemployment will gradually decline to 9.2% in 2021, while it will not reach the pre-pandemic level.