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5 facts about current labor market in Poland

From 1st July 2024, the monthly minimum wage in Poland has been increased from PLN 4,242 gross (EUR 991) to PLN 4,300 gross (EUR 1,005). Here are five other interesting facts about the current labor market:


1. The recent adjustment marks the second increase in 2024

Typically, the minimum wage is raised only at the beginning of the year, but if the anticipated annual inflation exceeds 5%, a legal mandate requires an additional mid-year increase.


2. Net salary 

As of July 2024, the net monthly salary stands at PLN 3,262 (EUR 762), with an hourly rate of PLN 22.7 (EUR 5.3). 


3. Planned increase in 2025

The Polish government has already approved proposal for a minimum wage increase in 2025. Starting in 2025, the monthly minimum wage will be raised by 7.6% to PLN 4,626 gross (EUR 1,060). The hourly minimum wage will be increased by 7.5%, reaching PLN 30.2 gross (EUR 7.05).


4. Labor costs 

In 2023, Poland’s average hourly labor cost was EUR 14.5, up from EUR 12.6 in 2022. This remains one of the lowest figures in the EU, where the average is EUR 31.8. For comparison, Finland’s average hourly labor cost was EUR 37.1 last year. Take a look at the map below for information on labor costs across other European countries.




5. Unemployment

According to Eurostat, Poland’s unemployment rate in May 2024 was 3%, unchanged from April. This is the second lowest figure in the EU, higher only than Czechia’s 2.7%. Finland's unemployment rate was 8.2% in May 2024, slightly down from 8.3% in April.




 

Sources:


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