GUS provided remuneration data: Average monthly salary gross in the enterprise sector in March 2025 amounted to PLN 9055.92. Compared to March last year, it is a 7.7 percent increase, and 5 percent compared to last month. Economists note, however, that monthly growth is primarily the result of payments of quarterly and festive bonuses.
Historical data: The salary in the enterprise sector for the first time in history broke the limit of 9,000. zloty. This is the highest average salary since ZUS has published data. Macronext analysts calculated that in October 2021 the average salary was below 6,000. PLN, which means that over the last 3.5 years Wages in Poland increased by 53 percent At the same time, inflation increased by 35-36 percent.
Stability came: “What is important in the data for March is sealing the tendency observed since the beginning of the year. The rate of wage growth decreases and most likely has permanently decreased to the level which We can consider 'normal' and 'not shocking'. In 2025, for the first time, since the wages in 2022 reacted strongly to inflationary shock, we saw in data about remuneration seven at the front and two months in a row. Thus, we are less than a percentage point on wage dynamics, which we observed in 2017-19, i.e. times of relative economic stability, “Pekao analysts note. ING economists predict that the following months should bring a continuation of the decline in wage dynamics around 6.0 percent.
Good news for the MPC: “Employment decreased by 0.9 percent y/y, not currently heralding the clear revival of demand for work. Together with a set of data on industry and construction, the overtones of these publications He should support pigeons.” – evaluate PKO economists bp.” Potentially permanent descent of remuneration dynamics around 7-8 percent. It gives the MPC a strong argument for a reduction in interest rates (because the current level of the reference rate was also in force when wages increased at a rate of 10-12 percent y/y). With accompanying processes on the labor market, weakening the global economic situation, positive CPI inflation reads with the perspective of reaching the MPCs at the turn of the year and the weaker than the results of industry and construction for March were expected, the council has more than any pigeon reasons ” – PEKAO economists write by 50 base points in May and June “foregoneed”.
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Sources: macronext [X]PKO Research [X]Andrzej Kubisiak [X], CentralING (press materials), Pekao (press materials)