Polish jobless rate seems to have dropped further in July

Jobless rate in Poland is expected to have dropped further in July. According to a Societe Generale research report, unemployment rate is likely to have dropped to 8.6 percent. The projection is consistent with the estimate made by the county’s Labor Ministry. However, the jobless rate gauged according to the LFS methodology is considerably lower, at about 6.1 percent to 6.2 percent year-on-year, seasonally adjusted.

The labor market data released recently was quite encouraging.  Employment growth in July quickened to 3.2 percent year-on-year from June’s 3.1 percent. The jobless rate is expected to keep falling in August, consistent with seasonal patterns and should reach a trough in September or October at about 8.3 percent to 8.4 percent, stated Societe Generale. This also suggests a rate lower than 9 percent by the end of 2016.