The Labor Market Turnaround. This Hasn't Happened in 4 Years

• The unemployment rate in Poland has reached its highest level in four years, according to the latest Eurostat data.
• These statistics confirm the trend already noticed in the study of economic activity of the population published by the Central Statistical Office.
• Both sources indicate a clear change in the labor market.

The difference is that the Central Statistical Office data were for the first quarter, while those from Eurostat are for April, i.e. the first month of the second quarter.

According to them , the unemployment rate in Poland is now 3.3% , while half a year ago it was 2.8% and was the lowest in Europe (excluding the Czech Republic, which had the same unemployment rate as us at that time). Now we have fallen to third place, where we are together with Bulgaria. Ahead of us are the aforementioned Czechs and Malta with a rate of 2.7%.

Of course, this level of unemployment is still very low and does not pose any problem for the economy, but it is worth noting that unemployment in Poland has stopped falling and has slowly started to grow. The number of unemployed, calculated by Eurostat at 578 thousand, is the highest since July 2021. It is also exactly 100 thousand more than the number of unemployed two years ago.

In the EU as a whole, there are 12.9 million unemployed, the lowest since December. The unemployment rate in the EU has remained unchanged for the fifth month at 5.9%, while in the eurozone it fell to 6.2%, the lowest since November last year.