Jobless rate may go up in coming months says analyst

Poland’s unemployment rate may inch upwards in the coming months, a think tank analyst has said.

Poland's unemployment rate went up to 5.5 percent in January 2023 from 5.2 percent in December 2022, the Central Statistical Office (GUS) reported on Thursday.

Sebastian Sajnog, an economist with the Polish Economic Institute (PIE), a government-sponsored think tank, said in a comment to the GUS data that he expected "a slight increase in the unemployment rate" in the coming months as the month-on-month growth in unemployment saw "a slightly bigger change than last year.

"Faced with an economic slowdown, employers will first limit recruitment or wage growth while trying to maintain employment," Sajnog said. "They will treat lay-offs as a last resort."

Collective redundancies are still insignificant, according to the economist. GUS reported 14,900 redundancies, but "last year it was 21,300," Sajnog said.