Second wave of COVID-19 may raise unemployment in Ukraine to about 15% – experts

Ukrainian experts say the global economy may suffer a crushing blow if the so-called second wave of the COVID-19 pandemic unfolds worldwide, while Ukrainian businesses may face even greater losses and new job cuts with an unemployment rate nearing 15%.

Livelihood expert for Caritas Ukraine ICF Hennadiy Yakubov in particular says: "According to our data, the current unemployment rate in Ukraine is 14.7%-14.8%, which is 2.7 million-2.8 million people in quantitative terms," as reported by 5.ua on August 14.

Read alsoUkraine's Economy Ministry publishes revised forecast, predicts 4.6% GDP growth in 2021

"With the deterioration of quarantine-related conditions and an increase in the number of those infected, the situation will only get worse. The number of jobs will decrease while that of workers is to be reduced, which will affect the labor market. The number of the unemployed is expected to reach 3 million people by the end of the year," he added.

Yulia Drozhzhyna, head of the expert analytical center of the personnel portal grc.ua, predicts that the possible new wave of the quarantine in the autumn may hit the businesses and, consequently, Ukraine's labor market.

"That is, there is every reason to say that the number of vacancies may decrease, unfortunately. This means that the competition will grow even more," she summed up.