Think tank BIEC expects further improvement on Polish labour market

By bne IntelliNews July 2, 2014

The labour market indicator WRP, which informs in advance about changes in employment volumes and jobless rate, fell by 0.5pts m/m to 85.7pts for the 10th time in a row (after its 11th consecutive growths), according to the Office for Investments and Economic Cycles (BIEC).

The pace of the indicator's decline was nearly twice slower than in April and May, but BIEC's experts stress that changes on the labour market speak volumes for its further improvement and a drop of the unemployment rate.

WRP's slower drop was attributed chiefly to declining number of newly employed persons in recent months as well as industrial enterprises' managers becoming more pessimistic on the economy's and jobs creation's prospects.

After eliminating seasonal factors, the unemployment rate inched down by 0.1pps m/m to 12.6%. According to the data of national stats office GUS, Poland's registered unemployment rate amounted to 12.5% at the end of April of 2014, i.e. it was down by 0.5pps from the previous month.

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