The average gross monthly salary in the Polish enterprise sector grew by 4.8 percent year-on-year in May to PLN 3,878, the Central Statistical Office (GUS) said on Tuesday. In month-on-month terms it declined by 2.5 percent.
Economists surveyed by the Polish Press Agency (PAP) had expected salaries to grow by 4.5 percent y/y and decline by 2.8 percent m/m. GUS also said that total employment in the corporate sector amounted to 5.51 million and that it grew by 0.7 percent and remained unchanged m/m.
Analysts surveyed by PAP had expected employment to rise by 0.7 percent y/y and by 0.1 percent m/m.
?Accelerating wage growth, combined with very low inflation and a slight increase in employment implies a considerable increase of households? labor income,? BZ WBK economists wrote in an e-mailed comment, pointing to real wage growth of 4.4 percent y/y.
?Such a growth rate of households? disposable income should support further recovery of consumer demand in the upcoming quarters. This will be supportive for a gradual rise in consumer prices in a longer perspective,? the analysts wrote.
Source: www.wbj.pl
