The number of new vacancies in the employment market during July practically did not change and remained at about 90% of the average level in 2021, according to data from the Center for Economic Strategy. As well, the activity of job seekers remains at a consistently low level, which is lower than the corresponding indicators for 2022 and 2023.
“The labor market of Ukraine is acutely feeling all the challenges of the war. The economic shock of the beginning of the Russian invasion caused a drop in demand and labor supply. Subsequently, the demand for labor began to recover, but slowly. At the same time, the number of people willing to find a new job in the summer of 2022 soared and exceeded the average indicators of 2021. However, further trends diverged: the need for labor was constantly recovering along with the economy’s recovery, and the activity of job seekers was constantly decreasing – due to migration abroad and mobilization to the armed forces,” say analysts.
In July 2024, the unemployment rate in Ukraine was 18.1%. Thus, unemployment increased after two months of decline.