Polish unemployment rate falls to 12%

Poland's unemployment rate fell to 12 per cent from 12.2 per cent in July, the labour ministry said today.

Poland's unemployment rate fell to 12 per cent from 12.2 per cent in July, the labour ministry said today.

According to the ministry, the number of unemployed may have fallen 1.9 per cent last month to 1.82 million.

If the statistics office, which is due to release last month's unemployment data later this month, confirms the forecast, it would push down the jobless rate to the lowest level since 1999.

Central Europe's biggest economy is growing at record-high levels on the back of domestic demand, fuelled by rising employment and soaring wages.

READ MORE

Labour market developments are key for the central bank's Monetary Policy Council as rate-setters look at it as the main source of a possible inflation rise in the future.

Inflation in July stood at 2.3 per cent year-on-year, while the bank's main rates is now at 4.75 per cent.