Thursday, July 5, 2007

Polish Unemployment Again

This in Bloomberg today:

Polish Unemployment Rate Fell to 12.4% in June, Near 8-Year Low

Poland's unemployment rate fell in June to 12.4 percent from 13 percent in May, according to preliminary estimates from the Labor Ministry.

The number of unemployed totaled 1.896 million, a near eight-year low, the Warsaw-based ministry said today in an e- mail. The rate remained the highest in the European Union, according to national statistics figures.

The fastest growth in a decade, driven by domestic demand and investments, forced companies to boost hiring, while an increasing number of Poles sought work abroad, resulting in staff shortages in construction and the health-care industry.

The European Commission said on May 7 that unemployment may fall to 11 percent by the end of the year, while Deputy Labor Minister Halina Olendzka said yesterday the year-end rate might be below 10 percent if the jobless rate continues declining at the current pace.

A final report on June unemployment will be published by the statistics office in the last 10 days of this month.

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