This small decline is caused by two factors. The first is a slightly slower pace of wage growth in enterprises employing more than 9 employees. Yesterday, the Central Statistical Office reported that the pace of wage growth has slowed down both in relation to the situation a year ago (7.5% now compared to 10.3% in September 2024) and in relation to the average changes in wages over the last nine months (8.1%).
It is worth noting, however, that average wages are still growing faster than the prices of consumer goods and services expressed by the CPI price index, which increases the financial resources of Poles (in September, consumer price inflation amounted to 2.9% year-on-year). September is it 26th month in a row with positive real wage dynamics.
BIEC reported that the second factor negatively affecting the Prosperity Index is a decline in employment in the corporate sector that has been ongoing for over two years. Only since the beginning of the year, over 45,000 jobs have been liquidated in enterprises. full-time positions. “Some of these liquidations can be explained by the natural retirement of employees. Some are a consequence of the necessary restructuring carried out in enterprises, while others are a consequence of the continuing economic slowdown,” BIEC reported.
The pace of price growth did not change compared to the situation a month ago and, consequently, this factor was neutral for the value of the Welfare Index (inflation was also 2.9% in August).
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