21:14 24 October 2019
PKO BP anticipates wage growth acceleration in Poland
Thanks to the government’s plan for an above-average minimum wage increase, wages in the entire economy may increase by as much as 8.8% next year, while in the enterprise sector the growth could amount to 8.3%, according to economists from the state-owned PKO Bank Polski. Experts from most other banks are slightly less optimistic and envision a salary increase similar to that in 2019 (about 7%).
However, the hike itself will also have negative effects. PKO BP economists emphasize that the total increase in labor costs will be even stronger (due to additional factors such as the start of the PPK program), which will, in their opinion, further weaken the demand for employees, limit employment growth and stimulate measures to increase labor productivity.
