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Upward Trend in Poland´s Labor Market

Published: October 1, 2013; 05:41 · (Vindobona)

The unemployment quota stabilizes at a high level. Poland´s economic outlook improves gradually.

Upward Trend in Poland´s Labor Market / Picture: © Flickr / Lee Cannon [(CC BY-SA 2.0)]

Poland´s National Bank NBP underlines that the labor market conditions are still tense, but there are first signs of economic recovery. In July, the number of non-subsidized job offers was up slightly. However, it is still questionable whether this trend is sustainable.

At the moment, Poland´s unemployment quota comes at 13%. In 2008, the figure stood at 8% and moved up in the course of the economic crisis.

After a growth rate of 0.4% in the first quarter and 0.9% in the second quarter, the annual growth rate in the fourth quarter is expected to reach 2.0%. In total, Poland´s GDP is projected to expand by 1.3% this year. However, Poland´s growth is mainly driven by net exports. Since 2008, Poland´s domestic demand has been stagnating. In 2012, Poland´s real income fell for the first time since 20 years.