Key findings
- Employment in the economy increased by 0,14% in seasonally adjusted terms, and the
average actual employment level reached 4151,7 thsnd. persons. - The unemployment rate decreased. By the end of the quarter, a new historical minimum
of 2,4% was reached. - In the quarter under review, the number of new hires exceeded terminations by slightly more than 3,7 thsnd. persons; there was a strong increase in additionally introduced workplaces,
which resulted in 6,4% growth to the previous quarter in seasonally adjusted terms. - Active labour market and wage dynamics continued in Minsk City and Minsk Region, while a slowdown was observed in Grodno Region.
- Positive labour market dynamics were observed in Construction. Active movement also
continued in Other services and Industry, while high employee turnover and a slowdown
in the creation of additionally introduced workplaces indicated signs of stagnation in Trade and service, transportation and repair activities, and accommodation and food services. The least active labour markets were in Financial services and Information and communication. - Labour market conditions remained tight primarily due to the declining unemployment rate.
- The average monthly wage amounted to 2696,4 BYN in nominal terms for the quarter, and in real terms it increased by 2,06% comparing to previous quarter, seasonally adjusted. The growth rate of real wages continued to outpace labour productivity growth, although their dynamics showed signs of deceleration.
- The level of wages relative to the average wage in the economy remained unchanged
compared with the previous quarter in both the state commercial and budgetary sectors.
The share of the payroll number of employees in the state commercial sector also remained approximately at the previous quarter’s level.