OREANDA-NEWS. December 30, 2009. Calculated in accordance with the International Labor Organization (ILO) methodology, the unemployment rate in Ukraine has decreased from 9.1% in 2Q09 to 8.6% in 3Q09. At the same time, real wages dropped by 10.3%, y/y in 3Q09, despite the nominal wage growth of 5.0%, y/y.

Millennium Capital explains the decrease in the unemployment rate by a slight acceleration of industrial output and a seasonal growth in agriculture in 3Q09. Meanwhile, the decrease in real wages was related to around 14%, y/y CPI growth in 3Q09. Millennium Capital expect that due to further predicted GDP growth in 4Q09, the unemployment rate will reduce to around 8%, reaching the level of 2004.