Unemployment in Poland

Poland Unemployment | Economic News & Forecasts

Poland - Unemployment

Data for Q3 suggests the economy continued to grow at a brisk pace. Retail sales expanded strongly throughout the quarter in annual terms, showing that household spending, supported by rapidly rising wages and a declining unemployment rate, continues to be the main driver of growth. Moreover, buoyant external demand drove exports up notably in July and August, underpinning industrial production. Imports also grew robustly due to soaring consumer spending, resulting in broadly balanced trade. Because of the favorable economic situation, in mid-October the Finance Minister decided to quit the IMF’s USD 9.2 billion flexible credit line, to which the country has never resorted. In late October Prime Minister Beata Szydlo announced a cabinet reshuffle in the next two weeks, a move interpreted as an attempt to refresh the government’s political momentum at the half-way point of its four-year term.

Poland - Unemployment Data

2012  2013  2014  2015  2016  
Unemployment Rate13.4  13.4  11.4  9.7  8.3  

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Poland Unemployment Chart

Poland Unemployment
Note: Unemployment in % of active population.
Source: Central Statistics Office.

Poland Facts

Bond Yield3.41-0.30 %Nov 17
Exchange Rate3.59-0.53 %Nov 17
Stock Market63,047-1.13 %Nov 17

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Economic News

  • Poland: Growth in industrial output jumps in October

    November 20, 2017

    According to the Central Statistical Office (GUS), industrial production jumped to an over seven-year high of 12.3% in October from the same month last year, accelerating notably from September’s 4.3% expansion.

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  • Poland: Inflation inches down in October

    November 17, 2017

    Consumer prices increased 0.5% in October, following September’s 0.4% rise and marking the fastest increase in 10 months.

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  • Poland: Growth accelerates in Q3

    November 14, 2017

    The Polish economy sped up in Q3.

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  • Poland: NBP holds fire on rates in November

    November 9, 2017

    The National Bank of Poland (NBP) kept the reference rate unchanged at a record-low 1.50% at its 7–8 November monetary policy meeting, in line with market expectations.

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  • Poland: Manufacturing PMI signals strong growth at the start of Q4

    November 2, 2017

    According to IHS Markit, the manufacturing Purchasing Managers’ Index (PMI) dipped to 53.4 in October from 53.7 a month earlier, remaining well above the 50-point threshold that distinguishes expansion from contraction in the manufacturing sector—where it has been for just over three years, the longest expansionary sequence since the survey started in June 1998. October’ strong print was underpinned by expansions in new orders and output, with the former matching September’s 31-month record growth rate and the latter easing only marginally from the previous month’s print.

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