In March, both employment and wages grew in enterprises
20:50
The average salary in the sector of enterprises employing more than 9 people increased by 12.4 percent in March 2022 on an annual basis. Employment also increased – by 2.4 percent compared to March 2021, the Central Statistical Office (GUS) reported.
The salary also increased on a monthly basis. In March 2022, it was on average 7.2 percent higher than in February and amounted to PLN 6,665.64. Employment also increased on a monthly basis. It was higher by 0.2 percent, which means that there were almost 6.485 million people employed in this sector.
As far as the banks' forecasts are concerned, ING Bank, among others, expected a higher wage increase than the consensus.
"Given the tense situation on the labor market, we expect a continuation of double-digit wage growth due to rising inflationary pressure and the accelerating price-wage spiral," the bank's analysts pointed out.
"The March reading suggests that the war in Ukraine has not weakened workers' negotiating power in wage negotiations with employers," Bank Pekao economists added.
