Polish unemployment drops to 9.6 percent

The rate of joblessness in Poland dropped in October to 9.6 percent, in line with expectations.

The figure stood at 9.7 percent the previous month, according to the Central Statistical Office (GUS). In October, as many as 1.52 million Poles were unemployed, GUS said. “[The drop] might actually be a trend because the fundamentals of the Polish economy look really positive and stable so the labour market is also tightening.

This could put pressure on wage growth, and therefore on inflation, which could be a positive factor for the monetary policy, and for the złoty [Polish currency] and a rate cut could be unnecessary,” Adam Puchalski, an analyst from X-Trade Brokers told Radio Poland. (rg/rk)