Unemployment in November likely higher

Poland's unemployment likely rose 0.2 percentage points to 9 percent in November when compared with the previous month due to the slowing economy, the labor ministry said on Thursday.

"Just like we expected, unemployment in November slightly rose when compared with October by 0.2 percent. We are constantly monitoring the situation," said Undersecretary of State at the Ministry of Labour and Social Policy Czesława Ostrowska. "The rise in the unemployment rate has been driven by seasonal factors."

Analysts agree stating that Polish unemployment tended to inch up in the winter months due to seasonal trends. "It's a seasonal thing. Unemployment is rising because of the end of seasonal works, such as in construction, hunting, picking, and other such areas," Marcin Mróz, chief economist at Fortis told Reuters.

Unemployment fell to 8.8 percent in October, the lowest in 17 years. Several years of strong economic growth have driven Poland's unemployment rate down from above 20 percent before the country entered the European Union.

Source: Reuters