MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

MNI China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: JAPAN JUNE SERVICES PPI +3.0% Y/Y; MAY REV +2.7%

MNI BRIEF: Japan June Services PPI Rises 3.0% Vs. May's 2.7%

US Treasury Auction Calendar

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Fall In Unemployment Rate Underscores Strengthening Labour Market

ITALY DATA
DataHomepagemarkets-real-timeData BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

The Italian April unemployment rate surprisingly fell to 6.9% (vs 7.3% cons). March’s figure was also revised a tenth lower to 7.1%. This reflected a small increase in labour force participation and a decrease in unemployment. The 3MMA of the unemployment rate also fell to 7.1% (vs 7.2% prior).

  • Employment also strengthened in April, rising 0.59% on a 3m/3m SA basis. The prime age employment rate was 62.3%, its highest level since at least 2004 (when the data series from ISTAT begins).
  • Although the EC’s expected employment indicator has drifted away from 2022 levels in recent months, it remains above the long-run average of 100. The most recent May data saw a 2.3-point rise to 107.7, the highest since September 2023.
  • Meanwhile, the EC’s Italian labour hoarding indicator fell again in May to 6.1 (vs 7.1 prior and a cycle high of 9.0 in November 2023).

156 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

The Italian April unemployment rate surprisingly fell to 6.9% (vs 7.3% cons). March’s figure was also revised a tenth lower to 7.1%. This reflected a small increase in labour force participation and a decrease in unemployment. The 3MMA of the unemployment rate also fell to 7.1% (vs 7.2% prior).

  • Employment also strengthened in April, rising 0.59% on a 3m/3m SA basis. The prime age employment rate was 62.3%, its highest level since at least 2004 (when the data series from ISTAT begins).
  • Although the EC’s expected employment indicator has drifted away from 2022 levels in recent months, it remains above the long-run average of 100. The most recent May data saw a 2.3-point rise to 107.7, the highest since September 2023.
  • Meanwhile, the EC’s Italian labour hoarding indicator fell again in May to 6.1 (vs 7.1 prior and a cycle high of 9.0 in November 2023).