Polish Job Growth Slows for Fourth Month as Economy Stumbles

Polish job growth at companies employing more than nine workers slowed for a fourth month in October as the largest economy among the European Union’s eastern members lost momentum.

Employment rose 2.5 percent from a year earlier after increasing 2.8 percent in September, the Warsaw-based Central Statistical Office said today. That matched the median estimate of 21 economists in a Bloomberg survey. Hiring dropped 0.1 percent from the previous month.

Finance Minister Jacek Rostowski last week backed away from the government’s 4 percent growth forecast for next year, saying instead the economy would expand no more than 3.2 percent. The World Bank this week lowered its projection for 2012 growth to 2.9 percent.

Average gross wages rose 5.1 percent from a year earlier in October, slowed from 5.2 percent the previous month. That’s below the 5.3 percent median forecast of 24 economists surveyed by Bloomberg. Wages rose 1 percent from September.

To contact the reporters on this story: Katya Andrusz in Warsaw at kandrusz@bloomberg.net Dorota Bartyzel in Warsaw at dbartyzel@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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