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Lockdown doubles unemployment rate in Ukraine, - report

Source : 112 Ukraine

1-1.3 million people have lost their jobs, and now there are 2.5-2.8 million unemployed people in Ukraine
15:04, 16 April 2020

Open source

The lockdown has almost doubled the unemployment rate in Ukraine: during the first two weeks of quarantine 500-700 thousand people lost their jobs, according to the press service of Ukraine’s Chamber of Commerce and Industry.

Thus, there are about 2.5-2.8 million unemployed people in Ukraine.

"The Chamber of Commerce and Industry of Ukraine estimates that the unemployment rate in Ukraine is 13.7-15.4%. This is the highest figure in the last 15 years," the President of the Chamber Hennadii Chyzhykov said.

The most cases have been caused by the shutdown of the passenger service.

Related: Quarantine and implications for economy

As we reported earlier, the analytics of the International Monetary Fund (IMF) predicts the global fallout in 2020 for 3% due to the coronavirus pandemic. For Ukraine, the economic crisis will be worse – the fall for 7.7%. 

Besides, the situation with unemployment will deteriorate. In comparison with 2019, it will increase by 1.6% - up to 10.1% and it can reduce up to 9.3% in 2021.

The analytics specified that such rates are possible in case if coronavirus pandemic will be overcome in the second half of the year and the restrictive measures will be abolished gradually. 

Related: Ukraine's economy in freefall: New authorities make it worse?

 

 

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