Polish employment growth seems to have stabilized at 3.2 pct y/y in August

Poland’s employment growth is likely to have stabilized in August. According to a Societe Generale research report, Polish employment growth in the corporate sector is expected to have come in at 3.2 percent year-on-year, unchanged from July. This is likely to have put sequential growth at about 0.1 percent.

The number of employees is likely to have risen by about 5,500 from July and by almost 179,000 from August 2015. This might underpin the wage bill. Employment figures are expected to stay strong in the months ahead and the general positive labor market trends are expected to continue, according to Societe Generale.

Meanwhile, Poland’s average gross wage growth is expected to have accelerated to 4.9 percent year-on-year in August, as compared with July’s growth of 4.8 percent, stated Societe Generale. This suggests a decline of 1.6 percent sequentially. Deflation continues to underpin the real wage growth, which is expected to have increased 5.8 percent year-on-year. Meanwhile, the real wage bill is expected to have increased 9.2 percent in annual terms.