Poland sees a significant drop in job offers, signaling potential unemployment growth amid economic uncertainty.
The number of job offers registered with employment offices in Poland dropped by 18% in August compared to the previous month and was over 16% lower year-on-year, according to a report by the Bureau for Investments and Economic Cycles (BIEC). Meanwhile, the number of unemployed individuals laid off due to company reasons increased by 4% compared to the end of July.
Indicators Suggest Further Worsening
BIEC’s Labor Market Index (LMI), which forecasts future unemployment trends, rose by 1 point in September, marking the second consecutive month of increase. Despite this, unemployment has remained stable, with the registered unemployment rate unchanged in August. However, unemployment benefits saw significant growth over recent months, signaling potential trouble ahead.
Economic Outlook Remains Unclear
While several components of the LMI suggest worsening conditions, the overall economic landscape lacks any significant shocks. The balance of firms planning layoffs versus those increasing hiring slightly improved in September but remains negative. The labor market remains fragile, with more companies pessimistic about their outlook.