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Competitiveness level to increase in Ukraine due to influence of Covid-19 pandemic, - experts

Source : 112 Ukraine

A lot of Ukrainians who worked abroad will not be able to return to Europe, as there already is an excess of the workforce
15:06, 5 June 2020

Open source

The pandemic of coronavirus and the return of labor migrants from Europe have drastically changed the situation on Ukraine's labor market.

According to the State Employment Service, the number of officially registered unemployed people exceeded 500,000. That's 50 percent more than in 2019. And the forecasts don't look good.

The experts assume that even after the quarantine restrictions are off and the enterprises get back to work, the unemployment level wil remain high, Channel 5 reports.

According to the experts, a lot of Ukrainians who worked abroad will not be able to return to Europe, as there already is an excess of the workforce. That means that job competitiveness in Ukrainian enterprises will grow.

Related: Ukraine marks international holiday - Labor Day

According to Mykhailo Demkiv, the financial analyst of the ICU group, part of these people will not be able to got abroad, and some will just be afraid to search for a job.

Otther countries also suffer from high unemployment rate. According to the International Organization of Labor, about 1.5 billion people could suffer due to the consequences of the pandemic.

Related: Ukraine expects $10 billion of income from labor migrants this year

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