Poland’s registered unemployment rate will likely decline to some 9.1% at end-2016, while the average wage is expected to rise by 5% next year, job agency Work Service said in a report.
“Considering the directions in which the economy and the labor market are developing, we forecast the end-2016 unemployment rate at 9.1%,” the report read.
Employment in the economy will have to grow by over 1% next year taking into account the forecast rate of economic growth at 3.5-3.8%, Work Service experts said.
The biggest demand for labor will be visible in the automotive industry, as well as in the segments of logistics, IT, BPO (business process outsourcing) and manufacturing. Strong demand for labor is also expected in the construction industry thanks to funds from the new EU perspective.
Poland may now be on track towards zero unemployment as measured according to the labor force survey (LFS) methodology, the report also reads.
“If the pace of economic growth is maintained we may be heading towards a model of full employment,” Work Service experts wrote pointing to the ageing society and economic emigration. “This means that the unemployment rate according to LFS will approach to zero in the coming four-five years.”
Average wages will likely increase by some 5% y/y next year as firms will have to compete for employees, especially specialists.
