Unemployment in Ukraine is at a record low, and the labor market is experiencing an acute shortage of personnel.

Unemployment in Ukraine has fallen to its lowest level since the full-scale invasion. In March 2024, the unemployment rate in Ukraine was 13.7%. At the same time, the number of new vacancies on the market in the last two months remains at about 80% of 2021’s average, while job seekers’ activity remains consistently low.

Meanwhile, according to the personnel portal Work.ua, searchers updated or created 327,735 resumes on the site in March, which is almost the same as in February. However, the searcher competition rate decreased again due to several factors. First of all, the shelling of the energy infrastructure and the subsequent supply interruptions with electricity and internet in a number of Ukrainian regions affected a number of indicators, from site traffic to, in fact, competition. Secondly, the increase in the number of vacancies contributed to decreased competition. Third, the decline in competition after the January peak is a seasonal phenomenon in the labor market.

Therefore, the labor market is still experiencing a personnel shortage.