Nominal wage growth slows down in Uzbekistan

In the second quarter of this year, the growth rate of nominal wages slowed to 17.4%, according to the Central Bank's labor market review. Real wage growth also slowed, reaching 7.7%.

Photo: Kun.uz

"The rate of wage growth remains relatively high due to the effect of last year’s indexation on this year’s indicators and the relatively low average annual inflation," the report states.

The fastest wage growth is observed in the services sector, particularly in trade (+24.6%), transportation (+20.6%), and information and communications (+23.2%).

However, wage growth in the construction sector has been declining since the second half of last year.

#Central Bank #review #nominal wage

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