Polish jobless rate likely to have dropped in June

Jobless rate in Poland is likely to have dropped in June. According to a Societe Generale research report, the jobless rate is expected to have fallen to 8.7 percent. This projection is lower than the Labor Ministry’s recent figure of 8.8 percent. Moreover, the final jobless rate for the month of May released by the CSO was lower than the estimates of the Labor Ministry, stated Societe Generale.

“We are looking for a 62,800 decrease in the number of unemployed people in June with 146,500 job offers reported (22.2 percent yoy growth),” added Societe Generale.

In the months ahead, the Polish jobless rate is likely to continue falling, keeping up with seasonal patterns and reaching a trough of around 8.3 percent in September or October. This further suggests a rate lower than 9 percent by the end of this year. Moreover, the jobless rate gauged with LFS methodology is lower. At present it is at seasonally adjusted 6.3 percent, said Societe Generale.