The economic slowdown has had a substantial impact on the Polish labor market, driving the unemployment rate up by 0.1 percent in September to 12.5 percent. According to the daily Puls Biznesu, this reflects a 6.8 percent increase compared with the same period last year. “The situation on the labor market is worsening, and the jobless rate will be growing in the coming months,” said Maja Goettig of KBC Securities. “We expect the unemployment rate to come in at 12.8 percent in November and 13.2 percent by the end of the year.”
The state allocated nearly PLN 0.5bn to the Work Fund (Fundusz Pracy) this year in an effort to keep the jobless rate down during the crisis. “We’re working on all kinds of solutions to support the job market in Poland, as well as to increase its flexibility,” said Władysław Kosiniak-Kamycz, minister of labor and social policy.
