Poland’s employment growth likely to have come in at 3.1 pct in July

Employment growth in Poland is likely to have stabilized more than 3 percent in July. According to a Societe Generale research report, employment in the country is expected to have grown 3.1 percent year-on-year in the corporate sector in July, the same as in June. In sequential terms, employment is likely to have grown about 0.1 percent.

The number of employees is anticipated to have increased by about 4000 in July from June, while on a yearly basis the number is expected to have increased by almost 173,100, added Societe Generale. The rise in employment growth is supportive for the wage bill. Employment growth is likely to continue to be high in the months ahead and underpin the continued positive trend in the labor market.

Meanwhile, gross wage growth is likely to have slowed down marginally in July. In year-on-year terms, average gross wage growth is expected to have declined to 4.6 percent in July from June’s 5.3 percent growth year-on-year. Real wage bill growth is expected to have reached 8.8 percent year-on-year.

“In monthly terms, wage growth should be up by 0.7 percent. Real wage growth continues to be supported by deflation and is likely to increase by 5.5 percent yoy,” stated Societe Generale.