In Ukraine, unemployment has fallen to a historic low: what is happening in the labor market.

Over the past year, the official unemployment rate in Ukraine has decreased and reached the lowest level in history, according to RBC-Ukraine referring to data from the State Employment Service and the National Bank of Ukraine.

According to statistics, by the end of 2024, the number of registered unemployed has decreased to 94.2 thousand people, the majority of whom are women. This figure is slightly higher than at the end of 2023, when there were 96.1 thousand unemployed.

At the same time, the number of vacancies has increased: employers are currently offering 46.7 thousand jobs, compared to 32.4 thousand a year earlier.

According to the National Bank of Ukraine, in 2024, it is expected that around 2 million Ukrainians (14.2% of the working-age population) will be looking for work. In the coming years, the unemployment rate is expected to decrease to 11.6% in 2025 and to 10.6% in 2026.

However, the National Bank warns that unemployment will not return to pre-war levels due to a serious imbalance in the labor market, particularly due to a shortage of qualified specialists.

'This level will be determined by the prolonged preservation of inequalities in the labor market, mainly due to the limited number of qualified labor force, which will affect demobilized military personnel,' the NBU emphasizes.