We present a new issue of the bulletin “Labor Market and Social Sphere”, which provides an analysis of the labor market situation in the Republic of Belarus in the second quarter of 2025.
Key findings:
- The number of employed in the economy decreased by 0,1% in seasonally adjusted terms for the quarter, while the average actual employment reached 4148,4 thsnd. persons.
- The unemployment rate continues to decline. By the end of the quarter, a new historical low of 2,6% was reached.
- A significant surge was observed both in new hires and terminations. The number of additionally introduced workplaces remained approximately at the level of the previous quarter.
- The most active labor market and wage dynamics in regional terms were demonstrated by Minsk City and Minsk Region, while a slowdown was observed in Grodno Region and Vitebsk Region. Against the backdrop of a small contribution to the growth of additionally introduced workplaces and wages, the large contribution of new hires and terminations in Gomel Region may indicate rising staff turnover.
- By industry, the most dynamic labor market developments were seen in industry, trade and service, and other services. A slowdown was observed in financial services, agriculture, and information and communication.
- Labor market conditions continue to tighten, primarily due to the decline in the unemployment rate and the high growth in vacancies.
- The real wage grew by 1,7% for the quarter (seasonally adjusted). Real wage growth slowed due to rising inflation. The gap between wage growth and labor productivity remained significant.