The Polish job market has witnessed a remarkable turnaround in November 2024, with record-high salaries and employment rates that defy the gloomy economic forecasts of the past year. According to the latest data, the average salary in large non-financial companies reached a staggering 8478.26 PLN brutto, marking a 10.5% nominal increase compared to the previous year. This remarkable growth is largely attributed to the payment of Christmas bonuses, jubilee premiums, and other additional benefits.
The mining industry has emerged as a clear winner, with salaries soaring by a whopping 49.9% compared to October, reaching an average of 18,364.89 PLN brutto. Energy sector employees also have reason to celebrate, with their wages rising by 17.6% to 13,597.93 PLN brutto. Other sectors such as forestry, construction, and culture and recreation also outperformed the average salary growth rate.
However, it’s essential to note that the median salary, which is a more accurate reflection of the average Pole’s income, still lags behind the average salary. As of June 2024, the median salary stood at 6507.39 PLN brutto, which is approximately 20% lower than the average salary in the enterprise sector. This disparity highlights the fact that many employees earn less than the impressive figures presented in the statistics.
In addition to the salary growth, the job market has also witnessed an improvement in employment rates. The number of jobs in the enterprise sector increased by 4,300 compared to October, breaking a three-month streak of declines. The annual employment decline of 0.5% is relatively small and mainly affects the industrial sector, while service-oriented industries such as construction and ICT continue to report a demand for new employees, albeit at a lower level than before the pandemic.
While the November results are undoubtedly impressive, it’s crucial to remember that the salary growth was boosted by additional premiums, which may not be a sustainable trend. Nevertheless, the data suggests that the Polish job market is maintaining its resilience in the face of economic challenges, with unemployment rates remaining record-low. This resilience is a testament to the country’s ability to overcome the economic downturn of the past year.
In conclusion, the Polish job market has demonstrated its strength and adaptability in the face of adversity, with record-high salaries and employment rates in November 2024. As the economy continues to navigate the uncertainty of the post-pandemic era, it’s essential to monitor the job market trends and adapt to the changing landscape. With the right policies and investments, Poland can continue to thrive and emerge stronger than ever.
Sources:
* Polish Central Statistical Office (GUS)
* National Bank of Poland (NBP)
* Eurostat
Keywords: Polish job market, salaries, employment rates, mining industry, energy sector, median salary, enterprise sector, unemployment rates, economic growth.