The unemployment rate in October was 6.1 percent, the Central Statistical Office reported. This means no change compared to September. The number of newly registered unemployed exceeded 115,000.
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According to the Central Statistical Office (GUS), the number of unemployed registered in labor offices in October amounted to over 1 million 18 thousand against 1 million 23 thousand people in September.
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The latest data show that the number of newly registered unemployed in October amounted to 115.1 thousand against 131.4 thousand a month earlier. For comparison, in October 2019 the number of new unemployed amounted to 137,000 people.
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The highest unemployment rate was recorded in the Warmińsko-Mazurskie Voivodeship – 9.8 percent, and the lowest in the Greater Poland Voivodeship – 3.7 percent.
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PAP / Adam Ziemienowicz
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“Good data from the labor market”
The president of the Polish Development Fund, Paweł Borys, referred to the latest GUS data on Twitter.
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“Again, good data from the labor market, indicating no increase in unemployment in October. Not bad. The effect of a strong rebound in economic activity in June – October and the continued operation of anti-crisis shields. A slight seasonal increase in the unemployment rate in the coming months” – wrote Borys.
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According to Monika Fedorczuk, an expert of the Lewiatan Confederation, the situation on the labor market in October “was relatively stable, and the forecasts for the rise in unemployment to double-digit levels, or even the government’s assumption of 7.4 percent, are exaggerated.”
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At the same time, she pointed out that “the above data illustrate the situation from almost a month ago, when the restrictions related to the second wave of the COVID-19 pandemic did not restrict business activity so much”. As it indicated, the sold industrial production increased in October by 1 percent y / y and by 3.7 percent m / m. Moreover, the data from the Polish HR Forum on the demand for labor show that the third quarter of this year brought a revival on the labor market.
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“At the same time, in October we already observed a deterioration in the mood of buyers due to the difficult epidemic situation and preparations for the announced second lockdown. This resulted in a decline in retail sales – the demand for non-essential goods decreased, while the tendency to stockpile food and drugs was much weaker than In turn, the purchase of many types of services – including tourism, culture and catering – was prevented by administrative restrictions “- she added.
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In the opinion of the Lewiatan Confederation expert, “this undoubtedly resulted in a reduction in the demand for work provided by employees”. “At the same time, the government did not provide for such available and universal support as in the laws passed in April this year, also due to budgetary constraints. The test of labor market stability will therefore be November and the following months,” Fedorczuk pointed out.
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As she noted, we still have sectors of the economy that cannot return to normal functioning or the applied restrictions affect the possibility of providing services. “Therefore, layoffs in the trade fairs, tourism, gastronomy or companies that cannot or are unable to adapt to operating online are possible in the coming months” – she assessed.
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photo-source">Main photo source: Shutterstock
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