Poland's unemployment rate rises to 5 percent in July

On Monday, the Central Statistical Office (GUS) reported that the unemployment rate in Poland rose to 5 percent in July 2024, up from 4.9 percent the previous month. The rate is expected to remain stable due to challenging labor market conditions and seasonal fluctuations.

Poland's unemployment rate increased slightly to 5 percent in July 2024, with current levels likely to remain steady due to challenging labor market conditions and seasonal fluctuations.

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According to GUS statistics, the number of registered unemployed in employment offices was 765,400, up from 762,200 the previous month.

"Registered unemployment rose from 4.9 percent to 5 percent in July, marking a slight but unusual increase of 3,200 unemployed individuals for this time of year," said Sebastian Sajnóg, an analyst at the Polish Economic Institute, a public think tank that prepares economic reports and analyses, in a comment to the Polish state news agency PAP.

#StopaBezrobociaRejestrowanego na koniec lipca 2024 r. wyniosła 5,0% i była wyższa niż na koniec czerwca 2024 r. (4,9%).

Więcej o #RynekPracy w #BiuletynStatystyczny 7/2024: https://t.co/0f8qBpYq5u#GUS #statystyki #BezrobocieRejestrowane #bezrobocie pic.twitter.com/6Ua3XXxryo

— GUS (@GUS_STAT) August 26, 2024

According to Sajnóg, the number of unemployed remains 17,000 lower compared to the same period last year.

Sajnóg notes that, based on earlier predictions, it is improbable that the unemployment rate will drop below 5 percent soon.

The current rate seems to have reached its lowest point, making further reductions challenging given the current labor market conditions.

Any fluctuations in the unemployment rate over the next few months are expected to be mainly due to seasonal variations.

Source: GUS/PAP

(m p)