Polish employment likely to have grown again in June; wage growth likely accelerated 5 pct

Poland’s employment growth is likely to have accelerated again in June. According to a Societe Generale research report, employment growth in the corporate sector is expected to have accelerated to 3 percent year-on-year in June. On sequential basis, the growth in employment is expected to have reached 0.2 percent. The number of people employed is likely to have increased by 11,500 in June as compared with May and by almost 167,300 on a yearly basis, noted Societe Generale.

Meanwhile, the average gross wages are expected to have grown 5 percent year-on-year in June, as compared with May’s rise of 4.1 percent, stated Societe Generale. On month-on-month terms, wages are likely to have grown 1.8 percent. Deflation is supporting the real wage growth, which is expected to have risen 5.8 percent year on year.

The real wage bill growth is likely to have grown 9 percent year-on-year, added Societe Generale. This would be the highest figure since October 2008. This should be shown in the GDP data for the second quarter of 2016, particularly in terms of higher individual consumption.