Polish Economic Institute Forecasts Stable Unemployment Rates in 2024 Amid Positive Economic Outlook

    In 2024, unemployment is expected to remain at levels similar to those of this year, according to Dawid Sułkowski from the Polish Economic Institute, commenting on Friday’s data from the Central Statistical Office (GUS). Additionally, he mentioned that the unemployment rate will slightly increase in the first quarter of next year.

    The Central Statistical Office reported that the unemployment rate in November 2023 was 5.0%, unchanged from the previous month. The number of registered unemployed in employment offices in November was 773.4 thousand, compared to 770.4 thousand the previous month.

    “The unemployment rate in November continues to remain at a historically low level. The number of available job offers and vacant positions remains low,” noted Dawid Sułkowski, an analyst from the macroeconomics team at PIE.

    In his assessment, the prospects for the coming year are better; economic recovery will once again increase the demand for labor. Moreover, business sentiment surveys indicate an improvement in attitudes towards planned employment in most industries.

    “We predict that in 2024, unemployment will remain at levels similar to this year. The unemployment rate will slightly increase in the first quarter of 2024 – this situation repeats itself every year and is associated with seasonal fluctuations,” Sułkowski stated.

    He added that unemployment will return to lower levels in the second quarter, along with a renewed increase in demand for seasonal workers.

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