Polish unemployment rate likely to have dropped further in August

Polish labor data for the month of August is set to be released tomorrow. The Ministry of Labor expects that the jobless rate in Poland has dropped to 5.8 percent as compared with the initial expectation of a rise of 6 percent year-on-year, stated Erste Group Research in a report.

Recently, there have been signs of stabilization on the lanor market with wage growth rising 6.8 percent year-on-year and employment growing 3.4 percent in August. The overall labor market situation continues to be favourable and the demand pressure is expected to increase in the months ahead that should finally translate into higher dynamics of core inflation stated Erste Group Research.