Polish jobless rate likely to have dropped further in October

Polish jobless rate data for the month of October is set to release tomorrow. According to an Erste Group Research report, the jobless rate is expected to have declined further in the month to 5.6 percent. The consensus expectation is for the jobless rate to be stable at 5.7 percent though.

The trends observed on the labor market are still favorable, in spite of the recent stabilization of wage growth and the jobless rate. The good financial situation underpins the high level of household spending.

Meanwhile, the flash inflation data for November that is set to release this week is expected to have fallen. The flash CPI is likely to have slowed to 1.6 percent year-on-year from October’s 1.8 percent.

“In our view, the drop in the headline figure will most likely be smaller, as we see CPI at 1.7 percent y/y in November. The inflation is expected to ease, given the base effect and weak food price growth”, added Erste Group Research.