Polish labour market index down in October - BIEC

The Labour Market Index (WRP), which predicts future changes in the level of unemployment in Poland, inched down in October, for the first time in six months, the Bureau for Investments and Economic Cycles (BIEC) said on Thursday.

BIEC experts said that seasonal increases in unemployment or slowdowns in the rate were typical for this time of year. However, this year's increase was higher than the changes recorded in the corresponding period of the previous year.

Poland's unemployment rate fell to 5.1 percent in September 2019 from 5.2 percent a month earlier, however, taking into account the seasonal factors, it amounted to 5.3 percent.

"Although the unemployment rate has been systematically falling, from approx. 14 percent at the beginning of 2014 to almost 5 percent in 2019, the economic activity rate in relation to the entire population, has just slightly changed, from 56.1 percent in Q1 of 2014, to 56.2 percent this year," BIEC experts said.

The report also showed that Poland belonged to a group of countries with the lowest professional activity rates in the European Union.

Also, according to the report, four components of the indicator are contributing to a decrease of its value, and therfore they forecast the possibility of a decrease in the unemployment rate.