OREANDA-NEWS. January 27, 2010. In 2009, nominal monthly wages in Ukraine increased by 11.6%, y/y to UAH 2,233 (up 14.2%, m/m in December). Meanwhile, real wages declined by 9.2%, y/y in 2009 (up 13.1%, m/m in December).

Millennium Capital sees the monthly wage growth in December to be seasonal, which is related to the increase in additional wages, such as bonuses and wage premiums by the year end. Millennium Capital does not consider such an increase to be a trend in view of a slower pace of economic recovery, and expect nominal wages to drop by around 15% in January 2010.