When unemployment peaks in Ukraine – NBU


The head of the Ukrainian central bank insisted that 1.6 billion people in the world could suffer from the epidemic

When unemployment reaches a peak in Ukraine – NBU comment. Photo:

The unemployment rate in Ukraine will increase in the second quarter, increasing to 11.5%, after which the figure will decrease in the second half of the year and as a whole, will be higher than in the previous year but less than 10%. This was said by the head of the National Bank of Ukraine during the annual conference of Yakov Smoly NBU and the National Bank of Poland.

Jacob Smolye
Head of the National Bank of Ukraine

He also said that due to a coronary crisis in the second quarter, the number of working hours worldwide could be reduced by 10.5% compared to the pre-crisis level, equivalent to 305 million full-time jobs.

Jacob Smolye
Head of the National Bank of Ukraine

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Earlier, we wrote that, according to the International Labor Organization (ILO), about one in six people in the world under the age of 29 stopped working due to a coronovirus epidemic. The ILO reported that the epidemics not only caused significant job losses among young people, but also violated the “education and training systems, which create significant barriers for those wishing to enter the labor market or change jobs”.

According to the organization, 178 million people under the age of 29 were employed before the crisis in the areas most affected by the epidemic, particularly in retail trade and tourism. About 77% of the youth who worked before the epidemic were employed informally.

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