Wages up by 3.0%, employment down by 1.0% in Polish enterprise sector in April

By bne IntelliNews May 21, 2013

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

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

Glass wool production restarts in Hungary after 16-year hiatus

Glass wool manufacturing has resumed in Hungary after a 16-year break, as the first trial products rolled off the production line at a new thermal insulation plant built in northeastern Hungary ... more

Dismiss