Poland leads the European Union statistics in terms of the lowest unemployment rate. According to Eurostat, unemployment in February was 3.1% while the Czech Republic came second with an unemployment rate of 3.2%. Spain has the biggest problem with a 16.1 percent unemployment rate.
“Low unemployment in Poland is the result of a very large aid package and a diversified structure of the economy. As a result, Poland is less affected by the pandemic than other European countries. For example, industries that suffered most from the pandemic such as the tourism and restaurant sectors are less developed in our country. On the other hand, we supply semi-finished products that are still eagerly bought in the West.” commented Cezary Mech, an economist.
“The primary reason is the great situation in the economy that we have observed since 2014. This concerned the whole of Central and Eastern Europe. Then came the pandemic and indeed, if not the 60 billion zlotys that the government allocated to freezing the employment level, the problem would be much uglier today. Basically there are loans given to entrepreneurs who have had a pandemic problem. Under one condition to keep employment at the previous level. And, in fact, most businesses maintained their employment this way. It is the commitment of the government that makes unemployment so low. However, it should be remembered that wages in Poland are still much lower than in richer countries.” stated another economist Marek Zuber.