Saturday, 9 February 2013

Poland: Unemployment Quota Above 14%

In January, Poland´s unemployment quota came at 14.2%, the Polish Ministry of Labor says.

From December to January, the unemployment quota rose further. The month-on-month increase reached 0.8 percentage points. The increasing unemployment is mainly based on the stagnating consumption and the significant slowdown in domestic and foreign direct investments. This year, the expected economic growth for Poland is 1.5%. In order to stop the economic slowdown, Poland´s National Bank (NBP) has cut the interest rate four times in a row.
The Ministry underlines that the rising unemployment has seasonal reasons. At the end of the year, Poland´s Ministry of Labor expects an unemployment quota of 13%.

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