Polish labour market index down m/m in July - BIEC

The Labour Market Index (WRP), which predicts future changes in the level of unemployment in Poland, went down to 72.0 points in July from 73.2 in June, the Bureau for Investments and Economic Cycles (BIEC) said on Wednesday.

"It is still at an elevated level," BIEC wrote in a comment to the study. It can be assumed that after the first shock, related to the economic downturn, employers are less likely to lay off workers than their declaration at the beginning of the pandemic implied," it added.

"Some jobs will still be made redundant and unemployment will grow, but this process should not be so abrupt," BIEC also said.