The average gross wages and salaries in the enterprise sector (in units employing more than 9 persons) inched down by 0.1% in monthly terms to PLN 3830.89 in April and were up by 3.0% on the year (compared to market expectations of a rise of 1.6%), according to the data of the national stats office GUS. In the entire 2012, they increased by 3.4% vs. 5.0% growth in 2011 (in 2012, the average annual inflation was 3.4%).
In April, the average paid employment was down by 0.2% on the month and down by 1.0% in annual terms, to 5,477.5 thousand (market consensus was -0.9%). The pace of employment's rise in the whole 2012 reached 0.1% vs. 3.2% a year earlier.
Bank economists attributed the higher-than-expected wages growth to pay-outs of bonuses in the mining industry and stress that the April data are insufficient to claim that a trend reversal is in the pipeline - they still expect wage pressure to remain moderate in the next few months.
Related Articles
Russian drones targeted Rzeszów airport hub, media claim
Russian drones, which breached Polish airspace in the early hours of September 10, might have been targeting the airport in Rzeszów, which is vital for the West’s military supplies to Ukraine, ... more
Non-performing loans hit historic low in CESEE, but early warning signs emerge, says EBRD
Non-performing loans (NPLs) in central, eastern and south-eastern Europe (CESEE) fell to their lowest levels since the global financial crisis in 2024, but early indicators suggest rising risks ... more
Malawi-focused Mkango Resources' unit to merge with US-based Crown PropTech
Lancaster Exploration (Lancaster), a subsidiary of Mkango Resources (Mkango), has announced a merger with Crown PropTech Acquisitions (CPTK), a US-listed special purpose acquisitions company. ... more
Most Read
-
Renewable capacity growth is faster than ever, but more acceleration needed to meet Paris 2030 goal, says IEA
1 year ago
-
Kyrgyzstan abandons attempt to rescue Russian climber trapped on icy summit of country’s highest mountain
21 days ago
-
BERTRAND: China after Communism, preparing for a post-CCP China
1 month ago
-
Hungarian economy faces weak growth, slow path to price stability, central bank report shows
2 months ago
-
UKRAINE REMONT: The battle to build: signs of recovery in Ukraine's construction industry
5 months ago