Normally the unemployment rate is kept in the region of 9-10%, but because of the war it has risen to 35% and is not the limit.
Because of the war, the unemployment rate in Ukraine jumped to a record 35%, according to the inflation report of the National Bank.
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Analysts note that due to the deep decline in economic activity and migration due to security risks in frontline regions, a large part of the population has lost their jobs. And because of the small financial margin of safety, households will actively look for work.
The unemployment rate also jumped as a result of part of the population leaving the labor force due to migration.
“However, if the migrants stayed in Ukraine and were actively looking for work, the unemployment rate would increase further,” said the NBU.
The growth of unemployment was also curbed by the mobilization of the Armed Forces of Ukraine.
According to the forecasts of the NBU, the collapse of the Ukrainian economy in 2022 will be the largest in the history of the country – about 33%.
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.