The data presented by the Central Statistical Office refer to enterprises employing more than nine people. The Central Statistical Office (GUS) reported that in October 2021, the monthly gross salary increased by 1.3% compared to September.
On the other hand, the salary, compared to October 2020, increased by 8.4%.
Experts comment: a slight, negative surprise
Specialists from mBank also commented on the latest GUS data: “The data from the labor market made a slight, negative surprise. We were surprised by employment (in minus), while the market (median / average) overestimated wage growth (we did not). Employment +0.5 percent / y (+ 0.1% m / m), wages +8.4 percent y / y (+ 1.3% m / m) “.
“In the case of employment, the nuances of (forced) part-time work probably still play. The picture drawn by the number of employees is constantly better. The number of people insured with ZUS is constantly growing. experts:
In November, deterioration of current and future consumer sentiment
“In November there was a deterioration in both current and future consumer moods compared to the previous month,” the Central Statistical Office reported.
The current consumer confidence index (BWUK), synthetically describing the current trends in individual consumption, amounted to 23.3 and was 5.5 percentage points. lower than in the previous month.
Compared to November 2020, the current value of BWUK is higher by 5.9 percentage points.
The leading consumer confidence index (WWUK), synthetically describing the trends in individual consumption expected in the coming months, fell by 3.6 percentage points. compared to the previous month and amounted to -18.1.
In November, WWUK reached the value of 12 percentage points. higher than in the corresponding month of 2020.
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