The private sector of Belarus is showing a high growth of labor remuneration, the Eurasian Development Bank (EDB) stated in its weekly macro review, BelTA has learned.

According to the EDB, real wages in Belarus increased by 13% in October from 12.5% in September 2024. At the same time, the growth of real wages in the public sector amounted to 9.7%.

“The high growth of wages in the private sector is related to the situation in the labor market. There is a steady increase in the number of vacancies (up 19.9% in October). The unemployment rate stood at 2.9% in Q3 2024, which was a historical minimum,” the EDB said.