The labour market indicator WRP, which informs in advance about changes in employment volumes and jobless rate, posted its 11th consecutive growth in May, but again a modest one: by 0.4pts m/m to 92.5pts, according to the Office for Investments and Economic Cycles (BIEC). This was the fourth month of the growth's deceleration.
However, currently merely two of WRP's components point to a decline of its value - i.e. an improvement on the labour market, BIEC noted. The positive signs signal impact of seasonal factors, while negative signs come from factors of cyclical character, it added. The analysts stressed, though, that the negative trends are mild.
BIEC estimates that the seasonally-adjusted unemployment rate inched up by 0.1pps on the month and amounted to 13.7%. According to national stats office GUS, the registered unemployment rate dropped by 0.3pps m/m to 14.0% in April.
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