A number of industries maintain their sentiments regarding the reduction of employees – NBU survey

A number of industries maintain their sentiments regarding the reduction of employees – NBU survey

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A number of key economic sectors in Ukraine maintain negative expectations regarding the reduction of their employees.

This showed another poll of business conducted by the National Bank during December 2023.

In particular, industrial enterprises for the second month in a row, they predict the deterioration of the results of their economic activity. The reasons are a decrease in the volume of export-import operations, an increase in logistics costs due to the blocking of the border, and high fuel prices. Of them:

  • plan to keep the current number of employees – 78%;
  • will hire new ones – 6%;
  • layoffs – 15%, which is 2.5 times more than the number of those who plan to increase the staff.

Construction enterprises for the third month in a row, the most pessimistic among other sectors assessed the economic results of their activities in the near term, taking into account the seasonal drop in economic activity, the narrowing of investment demand and the lack of qualified personnel. At the same time, expectations regarding the reduction of the total number of employees increased. In particular:

  • will keep the current number of employees – 70%;
  • will hire new ones – 5%;
  • will carry out layoffs – 25%, which is 5 times higher than the number of those who are ready to increase the staff.

Enterprises in the service sector have worsened the negative estimates of the results of their current activities, taking into account the logistical difficulties with crossing the border, high fuel prices and weak demand. Of them:

  • will keep the current number of employees – 80%;
  • will hire new ones – 7%;
  • will carry out layoffs – 13%, which is almost twice the number of those who are ready to increase the staff.

Of spheres of trade, then new hires will prevail over dismissals – 9% against 8%. Nevertheless, the majority of companies in this sector do not intend to change the number of their employees – 84%.

In general, trade enterprises in December worsened the estimates of their business activity after nine consecutive months of positive expectations due to a reduction in the volume of imports of goods due to the blocking of the border and a decrease in the purchasing power of the population.

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