Virtuous cycle

Bartlomiej Owczarek weblog

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Poland reduced unemployment rate faster than anyone

This according to Gazeta Prawna, which quotes Jan Rutkowski, economist at World Bank.

Unemployment fell from 20.7% in 2004 to 8.5% lately. Spain, apparently, took 20 years to lower their high jobless rate.

I made a nice chart about labor market once, maybe I should update it.