Ukraine was hit heavily by the late-2000s recession, the World Bank expects Ukraine's economy to shrink 15% in 2009 with inflation being 16.4%. The Ukrainian government predicts GDP growth of 0.4% in 2009 and a slowdown in inflation to 9.5% (also in 2009), although the overwhelming majority of economists consider this forecast to be excessively optimistic According to a forecast by the State Employment Center unemployment in Ukraine will triple to 9% in 2009 (there was 3% unemployment at the end of 2008), which would mean about 3 million people will apply for employment services. In September 2009 the official level of unemployment was 1.9%. 95% of the population of Ukraine have felt influence of the financial crisis; in July 2009 21% of them stated that "The crisis has a catastrophic impact on me and my family", this figure dropped to 17% in October 2009. Actual year-on-year wages in Ukraine fell in October 2009 by 10.9%, while in October 2008 it grew by 4.8% year-over-year according to the State Statistics Committee of Ukraine.

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