Compared to the previous year, Ukraine has recorded a significant increase in the average monthly salary, which stimulates the development of various sectors of the economy. Find out more about the reasons for this growth and which industries have the highest and lowest salaries

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Ukrainian companies are raising wages in order to retain and attract new highly skilled staff, especially in the context of the country's labor shortage. This is evidenced by a review by the Ministry of Economy of Ukraine. 

How has the level of wages in Ukraine changed over the year?

It is noted that in 2023-2024, the level of wages continues to be influenced by the factors of 2022, in particular the consequences of active hostilities in a large part of Ukraine. 

The consequences include the destruction of infrastructure and enterprises (or their damage, which led to the suspension of operations), significant permanent damage to logistics, and the absence of a significant number of working-age people due to migration processes and military activities. 

According to the Ministry of Economy, the average salary for a resume on job search sites increased to UAH 19,873 in early April (compared to UAH 16,464 in early 2023), and the salary for vacancies increased to UAH 18,728 (compared to UAH 14,715 in January last year).

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Which industries pay the most and least?

According to the State Statistics Service, the highest average monthly salaries of full-time employees were recorded in the Information and Telecommunications sector, where they grew from UAH 30,829 to UAH 37,946 over the year. 

The second place is occupied by “Financial and insurance activities” with a salary that increased from UAH 27,986 to UAH 34,393. 

This is followed by Professional, scientific and technical activities, where salaries increased from UAH 20,497 to UAH 23,413.

The lowest average monthly salaries were recorded in the category “Temporary accommodation” - an increase from UAH 9,367 to UAH 12,300. 

In the field of Education, salaries increased from UAH 11,999 to UAH 12,439, while in the Construction category, the average monthly salary increased from UAH 9,781 to UAH 12,634.

What is the average salary forecast for the coming years?

According to the government's forecast, in 2024 the average salary is expected to reach UAH 21,809, and after adjusting for inflation, it will increase by 8.5%.

In 2025, it is expected to further increase to UAH 25,732, and in 2026, this figure should reach UAH 30,260.

We remind you! The cost of living ranking in different regions of Ukraine reflects not only economic realities, but also socio-cultural features and living standards. Find out in more detail in which regions the lowest prices are currently observed and where the cost of living will be several times higher.

Photo: UNIAN

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