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

Poland’s Enterprise Investors acquires Croatian grocery chain Studenac

Polish Enterprise Fund VIII, a private equity fund managed by Enterprise Investors, signed an agreement to acquire a 100% stake in Studenac, a network of neighbourhood grocery stores operating in ... more

Polish PM takes over supervision of PKN Orlen and Lotos

Poland’s Prime Minister Mateusz Morawiecki has taken over supervision of two state-controlled oil and gas companies, PKN Orlen and Lotos, the energy ministry said on June 5. Stripping the ... more

CEE's oldest accelerator StartupYard picks six startups for crowdsourced funding

Prague-based start-up accelerator StartupYard will distribute up to CZK20mn (€782,000) to young companies to help them grow their businesses. The money was raised via a crowdfunding campaign ... more