Polish labour market index up in June - BIEC

Jakub Kamiński/PAP

The Labour Market Index, which predicts future changes in the level of unemployment in Poland, went up by nearly 1.0 point in June, for the third time in a row, the Bureau for Investments and Economic Cycles (BIEC) said on Monday.

According to experts, the state of suspension on the labour market will last until the end of the summer holidays.

BIEC said that it is still too early to fully estimate the effects of freezing the economy on the labour market, which usually responds with a significant delay compared to changes in the activity of the economy as a whole. "Many companies are still unable to assess the scale of demand reduction for their goods and services and the pace at which this demand will recover," BIEC added.

BIEC experts also noted that the suspension of the economy cannot last for too long, because it is expensive for all market participants. "It will probably last until the end of summer holidays and at the earliest in autumn it will be possible to assess the scale and durability of changes in the labor market," BIEC said.