Key characteristics of the labour market in Q1-2026
– The number of people employed in the economy increased by 0.1% over the quarter. The number of new jobs increased by 13.2% compared to Q4-2025 in seasonally adjusted terms.
– Increases in hiring and new job creation by sector were observed in construction and agriculture. There was a noticeable reduction in labor turnover in other services. The labor market was also less active in financial services and trade.
– The unemployment rate fell to a new low of 2.3%. The labor market remained tense.
– Average monthly wages increased by 2.2% over the quarter in real terms (seasonally adjusted). Real wage growth continued to exceed labor productivity growth.
– Relative wages in the public commercial and budgetary sectors remained virtually unchanged – 1.04 and 0.79 times the average wage in the economy, respectively.