Thursday, July 23, 2015

Unemployment in Poland. Later this year will fall to below 10 percent – Money.pl

The fallen 10.3 percent unemployment rate in Poland in June. This information was handed the Central Statistical Office.

Update, hours. 10.32

The published data are somewhat better than earlier expectations of economists, as well as the forecast of the Ministry of Labour and Social Policy. Everyone pointed to the score of 10.4 percent compared to 10.8 percent in May.

“Employers in June reported to labor offices 117,000 job offers. This record! So good result in June was not since 2001 year, that is since the Ministry of Labour and Social Policy conducts such statistics “- you can read the information on the department of labor.

According to GUS, in June at labor offices were registered 1.62 million people to 1.7 million last year.

Such optimism when it comes to the labor market in Poland, they are also economists. “In our view, already in the next few readings unemployment rate falls below 10 percent,” – Raiffeisen Polbank economists wrote in a morning commentary.

A similar view is shared by Ignacy Morawski, chief economist at Bank of FDI. – If we do not take into account the so-called. seasonal factors, it turns out that unemployment in Poland is falling at a rate of 0.1 percentage point per month. I expect that we will see single-digit score this year – says Ignacy Morawski in an interview with money.pl.

According to him, the improvement in the labor market can be seen especially in large cities, including in industries related to construction, that the worst period is behind us.

“We already have the first of the Polish economic indexes for July – traditionally indexes are the Central Statistical Office. All in July showed an upturn, and the scale of improvement is the strongest since the end of 2014. The index for industry rose by 0.8 of a point for the construction of 0.5 points, and for trade by 0.8 points. For the first time since November 2014, all the indices for these three sectors have increased at the same time. On the basis of these Indexes can be concluded that the slight dimple observed in the economy in the spring – that was noticeable in sentiment indices and real data – passes. This is obviously a very preliminary request and see if it will be confirmed by real data. In any case, chances are that This quarter GDP growth will wipe by 4 percent year on year are as realistic as possible, “- wrote Ignacy Morawski.

A few days ago, the Central Statistical Office also published the latest data on average earnings in Poland. It turned out that in June the average salary amounted to PLN 4039 gross exactly, which means that “the hand” Poles get an average of less than 2.9 thousand per month.

But keep in mind that these are statistics which do not show the whole truth about the pay. This means that most earn less than that amount.

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