Unemployment rising slowly, but it may accelerate: analyst

The unemployment rate in May amounted to 6 percent, which means a slight increase since the beginning of the pandemic. The situation may change after the end of government support, assessed Monika Fedorczuk, expert of the Lewiatan Confederation. 

According to CSO (GUS), the unemployment rate in May 2020 was 6.0 percent against 5.8 percent in April. The number of unemployed registered in labor offices in May was 1,011,700 against 965,800 people in April.

"It is worth remembering that we were entering a period of freezing the economy with record low unemployment (in February 2020 it was 5.5 percent), also compared to other European countries," Fedorczuk stressed.

She added that we owe the current, relatively good situation on the labor market to very careful staff movements on the part of employers, who, while waiting for the situation to change, use the available forms of support for employees rather than make radical dismissals.

"The next months will be a test to what extent the companies present on the market will be able to return to the level of activity before the coronavirus, and thus retain all existing employees," she added.

In her opinion, the instruments in subsequent anti-crisis laws have a limited three-month duration.

(PAP)