Thursday, May 17th, 2012
Polish unemployment rate higher than expected
Poland's unemployment rate for September remained unchanged from the month before, surprising analysts on the downside.
The percentage of Poles registered as unemployed stood at 11.8 percent last month.
The number of unemployed increased by 6,400 from the August level, representing growth of 2.7 percent y/y.
With the summer season over, and the number of seasonal jobs therefore becoming increasingly scarce, economists now expect the unemployment rate to rise.
“We foresee that due to economic slowdown and seasonal effects unemployment rate will increase above 12 percent at the end of year,” Bank Zachodni WBK analysts wrote in a market report.
From Warsaw Business Journal by Gareth Price
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