Salary increase: the number of vacancies in Ukraine is increasing, but there is a shortage of workers

The number of vacancies in Ukraine is increasing/unsplash

The National Bank in its macroeconomic and monetary review in October 2024 once again pointed to the difficult situation on the labor market. The number of new vacancies continues to grow compared to last year.

Although the decline in the number of new resumes has stopped and there is a significant shortage of workers. This is stated in the published review of the NBU.

According to the IED survey, estimates of the difficulty of finding employees have stabilized at a high level. According to the Advanter survey, on average, companies' staffs were 71% full in August, and the situation did not improve (74% in May 2024).

200% Deposit Bonus up to €3,000 180% First Deposit Bonus up to $20,000

Labor shortage causes high rates of nominal wage growth strong>, at the same time due to higher inflation, the growth of real wages slowed down.

So, according to the Advanter survey, the results of which are given in the NBU report, only 0.6% of the employers surveyed have more employees than they need. Another 24.6% have full staff (reductions are not planned, unlike the first, smallest category).

• 20.7% have a full staff, but are looking for workers;
• 30.8% – have a shortage of workers;
• 13.2% – have a significant shortage of workers (up to half of the places are vacant);
• 10.1% – have a critical shortage,
• up to 60% of seats are vacant.

Illustrative photo