Elena Buturlim13:11, 01/06/24

The Ministry of Economy has already developed a draft updated Labor Code.

The Ministry of Economy has prepared a draft of a new Labor Code. Discussions with all interested parties will begin in January. This was announced by First Deputy Prime Minister – Minister of Economy Yulia Sviridenko.

“The labor market in Ukraine still functions according to the Labor Code of 1971. Despite numerous changes, this document no longer meets the requirements of the time and slows down the development of the economy. A full-scale war only highlighted all the shortcomings more clearly,” the minister noted.

According to her, the new labor legislation legalizes various forms of employment: remote work, home work, and non-fixed working hours. Digitalization of the collection of information about the employee is also provided. Paper work records will no longer be needed.

Also in 2024, the Ministry of Economy plans to reform approaches to government procurement to counteract structural unemployment, when there are many unemployed, but the labor market needs other specialists. To solve this problem, government procurement in higher education institutions will be reduced to a minimum. Instead, you will have the opportunity to apply for a grant and get the desired profession.

It is also planned to modernize the state employment service. The reform provides for the digitalization of 90% of processes and a wide network of partnerships.

In addition, next year the volume of government support for people and businesses will increase.

Labor market

The official unemployment rate in Ukraine has reached a historic low. The number of registered unemployed in October fell to 97.3 thousand, of which 72.1 thousand were women.

At the end of the third quarter of 2023, the average monthly salary was UAH 17,937. when compared with the same period last year, the figure increased by 22.7%.

(C)UNIAN 2024