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Free AccessMNI: GERMAN DATA: Unemployment (Jun 2019) Preview....>
MNI: GERMAN DATA: Unemployment (Jun 2019) Preview - 08:55 BST
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- Bbg Consensus: 0K, 5.0%; MNI Median: +5K, 5.0%; Previous (May): +60K, 5.0%
- Markets expect the unemployment rate to hold steady in Jun after it rose in
May for the first time in over five years
- Recent survey evidence has been pointing to slowing employment growth as
business uncertainty keeps firms' expansion plans on hold
- While May's German labour market data is the first sign of this materialising
in the hard data, the Federal Labour Agency pointed out that approx. 2/3 of the
increase was due to methodological reclassifications
- Moreover, at just 5%, the UE rate remains just a touch above its
post-reunification low of 4.9%
- Nevertheless, with increasing signs of contagion from the export-oriented
manufacturing sector to the domestically-oriented services sector...
- ... the June UE data will be closely watched to help ascertain whether the May
UE rise was just a blip or the start of an underlying cooling in the labour mkt
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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.