What happens to an economy when a quarter of the labour force has to leave — either to become soldiers or refugees? What does that data show? A remarkable level of resilience given the circumstances.
There has been a skills-mismatch problem, too.
“Traditionally eastern parts of Ukraine are more industrial — many people moved to central and western Ukraine, which is more agricultural and services based,” Iryna Ippolitova, a senior researcher at Ukrainian think-tank Centre for Economic Strategy, told me.
Both agree that remote work has been a factor in the labour market’s resilience, too, by enabling employers to hold on to white-collar staff who have left the country or been internally displaced.
For now, the Ukrainian labour market’s ability to keep functioning through years of active conflict is an impressive feat. It is also a reminder that fighting a war depends on economic resilience as much as military might.
Source: Financial Times.
More news from CES experts can be found via the link.
