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Tigipko forecasts reduction of unemployment level in Ukraine to 7.2% by end of 2012

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March 7, 2012, 5:03 p.m. | Ukraine — by Interfax-Ukraine

The level of unemployment could be 7.2% in late 2012, which would be 3% lower than the average level of joblessness in Europe, Ukrainian Vice Premier Sergiy Tigipko has said.

The level of unemployment could be 7.2% in late 2012, which would be 3% lower than the average level of joblessness in Europe, Ukrainian Vice Premier Sergiy Tigipko has said at an extended meeting of the government on March 7. He noted that unemployment in Ukraine has fallen to 7.8% in the last two years. At the same time, according to Tigipko, this problem could be settled via changing the approach to the employment of the population.

Tigipko also said that the government should exempt employers that provide graduates of Ukrainian universities with first jobs from paying the single social tax.

"I think we should completely exempt from the payment of the single social tax those employers that provide people with their first jobs given that after one year of work they keep the young person at this job for six more months," he said.

The vice premier added that if an employer violates this obligation he will have to reimburse the losses to the state.

In addition, Tigipko proposed to exempt from single social contributions "those employers that really increase the number of working places."

"These are investments, they should be stimulated, and if this is done then number of working places will really increase," he said.

Tigipko also said that a bill on employment would be considered by the government soon.

As reported, in February Tigipko stated that the Social Policy Ministry of Ukraine expected that the level of unemployment in Ukraine would be down to 7.2% in 2012.

"We expect that this year real unemployment, which is estimated by the International Labor Organization, will drop from 8% to 7.2%," he said.
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