GUS: rising wages and employment in companies. Economist … – Polish Radio

GUS: rising wages and employment in companies. Economist … – Polish Radio

In terms of monthly wages fell by 1.8 percent.
Economists forecast that in August on an annual basis, employment grew by 0.8 percent and wages increased by 3.8 percent.

The situation is relatively good

Main Post Bank economist Monika Jacket said that the situation on the labor market, particularly in companies remains relatively good. This is despite signs of economic slowdown. Deterioration in the labor market is likely to be expected early next year because of delay responds to what is happening in the environment – explains. Monika Jacket added that wages in firms grow at a decent pace.

– If not for the Russian-Ukrainian conflict, which caused mutual sanctions imposed by the West on Russia and Russia to the West, and that inhibits the recovery in the euro area and also in Poland, the improvement in the labor market probably would proceed faster. Unfortunately, prolonged conflict for our eastern border raises the risk of inhibition of the positive trends in the labor market, and even her relapse – explains economist.

Wage growth is stable

Bank Economist Pekao Peter Piękoś says that for the third consecutive month of growth of wages in the enterprise sector remained. The August reading confirms that wage pressures still remain moderate, which is supported by the slow growth of consumer prices and, consequently, households’ inflation expectations and the current economic slowdown in the domestic economy due to weakening external demand.

GUS worse than expected
Analyst brokerage TMS Brokers, Marek Wołos on Polish Radio 24 reminded that the CSO are worse than expected by experts, but these results should not be underestimated. The expert adds, however, that our real wages grow more than show that today’s Information Central Statistical Office. An increase of 3.5 percent coupled with a decrease in the price level on an annual basis was in August – 0.3 percent means that Poles really afford more.

Deflation raises our salaries

In the face of deflation is a comfortable situation for workers. Where before we had to demand increases, it now comes automatically – emphasizes economist Victor Paten from the School of Business in Nowy Sacz.
In the long run, however, if deflation will be maintained, the employer does not have room to reduce salaries may start to reduce employment in the company – adds the expert.

Important GUS
The current week is full of economic data from the Central Statistical Office. Yesterday we learned about the August inflation data (-0.3 per annum). On Wednesday we will learn about industrial and construction-assembly in August, and on Friday the CSO will publish data on the economic situation and consumer.

Wladyslaw Kosiniak- Kamysz, Minister of Labour and Social Policy: a very good year , unemployment fell by 2 percentage points