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Abstract:

The OECD economy is in the midst of its deepest and most widespread recession for more than 50 years. Output has declined in almost all OECD countries in the past ten months and with non‐OECD economies also slowing sharply, world growth has turned negative. Although Poland appears to have fewer problems than other OECD countries in tackling the current crisis, the country is not immune from the global slowdown and will experience a worsening of labour market conditions for many of its citizens. The most recent Polish Labour Force Survey data suggest a rise of the overall unemployment rate in Poland from a 6.6% historical low in mid‐2008 to around 8.2% during the second quarter of 2009. Over the same period of time, the youth (15‐24) unemployment rate rose from 16.5 to 19.5 percentage points. This deterioration of the youth unemployment rate is lower than the corresponding OECD average (+4 percentage points) and much less dramatic than in Spain and in Ireland (+11.4 percentage points).

Document Type: Review Article

Publication date: 2009-11-01

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