Poland’s average gross wage growth likely accelerated in April

Growth in Poland’s average gross wage is expected to have accelerated in April. Average gross wage growth is likely to have expanded 3.5% y/y last month as compared with March’s 3.3% y/y, said Societe Generale in a research report. On sequential basis, average gross wage growth is likely to have decreased 1.9%, added Societe Generale. Deflation is still underpinning real wage growth and is expected to rise by 4.7% y/y, while real wage bill growth is expected to come to 7.7% y/y. This is assuming that employment rose 2.8% y/y in April.

Meanwhile, employment is likely to have continued growing steadily in the corporate sector to 2.8% y/y last month, noted Societe Generale. On sequential basis, it is expected to have grown 0.1%. Therefore, the number of employees is likely to have increased by about 6,700 from the prior month. On a year-on-year basis, it is expected to be higher by almost 158,500, according to Societe Generale.