MNI BOK WATCH: More Evidence Needed To Cut Rates, Says Rhee

MNI: PBOC Conducts CNY2 Bln Via OMO Thurs; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

MNI: PBOC Sets Yuan Parity Lower At 7.1339 Thurs; -1.06% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1339 THURS VS 7.1342

MNI BRIEF: Bank of Korea Keeps Policy Rate At 3.50%

Activity data stronger-than-expected; little impact on near-term monpol

MNI: GERMANY JUNE FINAL HICP +2.5 % M/M, +0.2% Y/Y

MNI: GERMAN JUN CPI +2.2 % Y/Y

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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

Public Employment Services Data Consistent With Gradual Labour Market Loosening

SWEDEN
DataHomepagemarkets-real-timeData BulletBullet

The Swedish labour market continued to gradually loosen in June, according to data from the Public Employment Service. Overall, the data is supportive of a Riksbank rate cut in August, though tomorrow’s CPI report is of course more important on that front.

  • The unemployment claims rate was 6.7% for the second consecutive month, while total vacancies continued to moderate on a monthly and annual basis.
  • This enabled the vacancies to unemployment claims ratio to tick down to 0.26 (vs 0.28 in May ’24 and a cycle high of 0.58 in May ’23), signifying looser labour market conditions.
  • Although the unemployment claims rate has drifted higher through this year, the number of employees given redundancy notices fell to its lowest since April 2023.
  • June Labour force survey data is due at the end of this month.

145 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 Swedish labour market continued to gradually loosen in June, according to data from the Public Employment Service. Overall, the data is supportive of a Riksbank rate cut in August, though tomorrow’s CPI report is of course more important on that front.

  • The unemployment claims rate was 6.7% for the second consecutive month, while total vacancies continued to moderate on a monthly and annual basis.
  • This enabled the vacancies to unemployment claims ratio to tick down to 0.26 (vs 0.28 in May ’24 and a cycle high of 0.58 in May ’23), signifying looser labour market conditions.
  • Although the unemployment claims rate has drifted higher through this year, the number of employees given redundancy notices fell to its lowest since April 2023.
  • June Labour force survey data is due at the end of this month.