Welfare Index in April down by 0.5 pts
21:22
The Welfare Index, reflecting the economic condition of Polish society, fell by 0.5 percentage points in April, the Office of Investments and Economic Cycles (BIEC) reported.
BIEC reports that this is the second consecutive month of deterioration in its performance, despite the increase in employment and high wage dynamics.
"Employment in the enterprise sector has been growing at a rate exceeding 2 percent since the beginning of the year and already in January exceeded the level from before the pandemic. This is largely due to the return to full activity of economic sectors, the activity of which during the intensified pandemic was significantly limited. it is primarily hotel and catering companies, where employment increased by as much as 10 percent last year,” the commentary reads.
"Wages in the enterprise sector in nominal terms increased by over 12 percent per year. It can be said that there is a race between wages and prices. This race is very uneven across sectors of the economy. Wages in mining increased the most – by over 30 percent on an annual basis, their level in this industry is also the highest,” BIEC added.
