Global| Jun 23 2006Poland Unemployment Rate at 4-Year Low
Summary
Unemployment in Poland fell 59,000 in May, to 2.61 million, the lowest number since August 2000. The May decline accelerated a marked downtrend that began in July 2004 after a plateau at 3.2 million that had lasted about two years. [...]
Unemployment in Poland fell 59,000 in May, to 2.61 million, the lowest number since August 2000. The May decline accelerated a marked downtrend that began in July 2004 after a plateau at 3.2 million that had lasted about two years. These data, except where noted, are seasonally adjusted by Haver Analytics.
The associated unemployment rate was 16.6% in May, down from 17.0% in April. This is the lowest since late 2001. However, the rates prior to January 2002 were based on a different kind of population census, so they are not fully comparable. The May value is by far the lowest on the current population base. 
Employment is rising. Employment is measured several ways in Poland, but fortunately, they are all behaving in the same manner at present. A kind of grand total is taken quarterly; it shows 14.43 million employed in Q1, up by 144,000 from Q4 and the third successive sizable increase. Within this total, private sector jobs account for 9.9 million in Q1, not seasonally adjusted, up 4.0% from the year-ago quarter. The public sector has started to increase modestly after a long "downsizing"; jobs there number 4.29 million in Q1, up 0.9% from Q1 2005. When this data series began in Q1 2000, there were 5.09 million public sector jobs and 9.23 million in the private sector. The private sector experienced a cyclical downturn in 2002-2003 but has recovered to a new peak since then. 
A separate monthly tally of private nonagricultural enterprise employment (reported on June 19) reached 4.90 million in May, up 12,000 in the month and 3.0% ahead of a year ago. Industry detail through April shows cyclical gains since 2004 for most sectors except construction, which remains weak. The real estate/business services area has expanded consistently throughout the four-year history of these data.
| Poland, 000s, SA* | May 2006 | April 2006 | Mar 2006/Q1 | Year Ago | 2005 | 2004 | 2003 |
|---|---|---|---|---|---|---|---|
| Unemployment | 2,608 | 2,667 | 2,714 | 2,897 | 2,871 | 3,091 | 3,179 |
| Unemployment Rate (%) | 16.6 | 17.0 | 17.2 | 18.4 | 18.2 | 19.5 | 19.9 |
| Employment | 14,430 | 14,002 | 14,116 | 13,795 | 13,716 | ||
| Private Nonagr Employment | 4,901 | 4,889 | 4,870 | 4,756 | 4,770 | 4,681 | 4,718 |
Carol Stone, CBE
AuthorMore in Author Profile »Carol Stone, CBE came to Haver Analytics in 2003 following more than 35 years as a financial market economist at major Wall Street financial institutions, most especially Merrill Lynch and Nomura Securities. She has broad experience in analysis and forecasting of flow-of-funds accounts, the federal budget and Federal Reserve operations. At Nomura Securites, among other duties, she developed various indicator forecasting tools and edited a daily global publication produced in London and New York for readers in Tokyo. At Haver Analytics, Carol is a member of the Research Department, aiding database managers with research and documentation efforts, as well as posting commentary on select economic reports. In addition, she conducts Ways-of-the-World, a blog on economic issues for an Episcopal-Church-affiliated website, The Geranium Farm. During her career, Carol served as an officer of the Money Marketeers and the Downtown Economists Club. She has a PhD from NYU's Stern School of Business. She lives in Brooklyn, New York, and has a weekend home on Long Island.
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