Wage growth may prompt retail chains to revise their layoff policy
The situation has not changed
Average wage in Belarus in March 2017 grew by BYN 54 and reached BYN 770.6 (USD 407). Wages grew amid improvements on the consumer market: in March, retail trade turnover adjusted for inflation increased by 2.8% as compared with March 2016. Due to the strengthening of the national currency, consumer goods import is expected to grow, so as the average check in retail chains. Sales of non-food stuffs are likely to outgrow foodstuffs sales. The share of domestic goods is likely to decrease in the total trade. In Q1 2017 retailers laid off more than 4 000 people. Amid improvements on the consumer market, they could revise their staffing policy and somewhat reduce layoffs. Some retailers may even start hiring again.
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Once a week, in coordination with a group of prominent Belarusian analysts, we provide analytical commentaries on the most topical and relevant issues, including the behind-the-scenes processes occurring in Belarus. These commentaries are available in Belarusian, Russian, and English.
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