Poland’s unemployment rate eased growth further in June, inching up 0.1pp y/y to 6%, the Ministry of Development, Labour and Technology said in a preliminary estimate on July 6.
Poland’s labour market continues to show resilience to the slowdown in economic activity inflicted by the COVID-19 (coronavirus) pandemic. Demand for labour is currently on the rise in the wake of near-full removal of the pandemic restrictions combined with the seasonal pick-up typical for the summer months.
Poland recorded just 38 new coronavirus cases as of July 5, the lowest in over a year; one person died. There is concern, however, that the falling pace of vaccinations could lead to a surge in new cases and reinstatement of some restrictions as soon as in August.
The number of unemployed amounted to nearly 995,000 at the end of June, the ministry said. That is a drop of 3.1% – or by 31,900 people – compared to the end of the preceding month. In y/y terms, that represented a fall of 21% or as many as 265,000.
Month-to-month, the unemployment rate fell 0.1pp, the ministry also said. An official reading of the unemployment rate is due later this month from the statistical office GUS.
Poland's GDP contracted 2.7% in 2020 in the wake of the pandemic but is expected to bounce back at 4%-5% this year.