The symptoms of this process can already be clearly seen in the latest statistical office data.
"The labor market is starting to feel the economic slowdown. The decline in payrolls at this time of year last occurred in 2015 and even during the pandemic (February 2021) the corporate sector employed workers. At the same time, the pressure on wage growth continues, which is undoubtedly closely related to high inflation," pointed out Monika Kurtek, chief economist at Bank Pocztowy.
"At the moment, it seems that companies are opting for a smaller number of employees, but at the same time, they are still accepting wage increases. And this situation may persist for the next few months," she added.
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