Polish unemployment rate to remain unchanged

Societe Generale notes...

• We expect the unemployment rate to remain unchanged in February.
  
  
• Our forecast is in line with market expectations and labour ministry data.
  
  
• According to the Polish labour ministry,95,100 job offers were reported in February, representing 30% growth mom. 
  
  
• Also, the number of unemployed people was only 1,000 higher than in January and 336,000 lower than a year ago. 
  
  
• The ministry is supporting jobseekers and plans to spend PLN5.5bn this year on active labour market policy programmes for young people, parents and the elderly (50+).
  
  
• We expect the unemployment rate to be close to 10.0% at the end of 2015.