NBP sees improvement on labor market

The total number of employed persons in Poland has significantly increased in the first quarter of 2014, according to an analysis performed by the National Bank of Poland. The growth stood at 1.8 percent year-on-year and 0.7 percent quarter-on-quarter. The number of people employed on standard work contracts is however still declining, though at a slower pace, the NBP said. It fell by 0.5 percent y/y and grew by 0.1 percent q/q after seasonal adjustment. The unemployment rate declined by some 0.1 percentage points a month. It fell by 0.9 points from a  maximum in autumn to 12.6 percent at the end of the first quarter 2014, the central bank said.