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.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Strongly profitable Czech petrochemical maker Unipetrol puts cracker explosion behind it

Unipetrol looks to have finally got over the August 2015 fire and explosion that wrecked its steam cracker, an indispensable installation in the production of ethylene feedstock needed to manufacture ... more

Evolution Equity Partners closes $125mn cybersecurity-focused fund

Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more

Play Communications' Warsaw IPO price sets value at over PLN4bn

Play Communications, owner of second biggest Polish mobile operator P4, has set the price of its upcoming initial public offering (IPO) at PLN36 (€8.5) per share, putting the value ... more

Most Read

  1. Siemens considers quitting Russia
    7 days ago
  2. COMMENT: Gazprom’s exit from Turkey is a sign of the times
    8 days ago
  3. Wildfires hit Croatia and Montenegro’s Adriatic coast
    3 days ago
  4. Nato still has a mixed reception in Emerging Europe
    7 days ago
  5. Tajik president’s 23-year old daughter appointed deputy head of largest Tajik bank
    2 days ago
  1. CHINA RISING: When sleeping giants meet
    10 days ago
  2. Belarus’ retail king Euroopt goes on the road
    16 days ago
  3. Moldova, Bulgaria, Poland, Albania and Latvia to lose more than 40% of their populations by 2100
    29 days ago
  4. STOLYPIN: Russia’s cyber-challenge cuts both ways
    18 days ago
  5. Siemens considers quitting Russia
    7 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss