Economy
22:08 24 March 2020
Post by: WBJ

Unemployment rate may increase to 6-6.5% at end of 2020: bank

Unemployment rate may increase to 6-6.5% at end of 2020: bank
Source: Piqsels

Economists of Bank Ochrony Środowiska (BOŚ) estimate that the unemployment rate will be 6-6.5 percent in December this year. against 5.2 percent recorded at the end of last year.

“In the long term, with a clearly lower forecast of economic growth in 2020, we expect (after several years of dynamic decline) an increase in the unemployment rate. Assuming the effectiveness of government actions aimed at limiting the scale of dismissals and the fact that the decline in employment may affect to large extent migrants, we expect a relatively small scale of increase in the unemployment rate,” BOŚ commented.

As reported by the Central Statistical Office (GUS), the registered unemployment rate at the end of February 2020 was 5.5 percent, i.e. it remained unchanged compared to January. In February 2019, the rate was 6.1 percent.

(ISBnews)

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