ARMENIAN CENTRAL BANK EXPECTS MEDIAN WAGE TO GROW BY 7%
ARKA
May 12, 2010
YEREVAN
Armenian Central Bank said it expects the national median nominal
wage to increase this year by 7%. The bank said in its Money and
Credit Policy Program for the second quarter of 2010 that it expects
the median nominal wage to grow also a little in the first quarter
of 2011, to be backed by increasing wages both in public and private
sectors on the back of recovering economy.
The Central Bank has also forecast a 1.7% unemployment rise for 2010
to 7.3%, by 0.4% higher than in 2009. But in the first quarter of
2011 the unemployment rate is expected to fall to 7%.
The Central Bank said also developments in labor market will result in
inflationary pressure on consumer market (about 0.4%) because expenses
on a unit of labor force will rise by 2%. Simultaneously inflationary
pressure on the labor market will lower. In the first quarter of
2011 inflationary pressure on labor market will rise by 0.7% since
the average wage will be growing faster than the labor productivity.