Gloomy unemployment and wage scenarios not true - official

President of the Polish Development Fund (PFR) Pawel Borys wrote on Twitter on Wednesday that "gloomy predictions regarding unemployment and wages have not come true."

"The labour market has been reviving - the drop in employment figures by 2.3 percent, which is below the market expectations of 3 percent, and a 3.8-percent growth of wages, which is also above forecasts - are positive for consumption. (...) Gloomy predictions regarding unemployment and wages have not come true," he said.

The Central Statistical Office (GUS) announced on Wednesday that Poland's average corporate gross wage rose by 3.8 percent year on year to PLN 5,381.65 (EUR 1,223.1) in July 2020. In monthly terms, the average wage grew by 1.8 percent.

July's corporate employment dropped by 2.3 percent year on year to 6,252,000 and increased by 1.1 percent month on month.