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Unemployment (Jun 2020) Preview

EUROZONE DATA
(MNI) LONDON

BBG EZ UE: 7.7%; Previous (May): 7.4%

BBG DE UE (Jul): +45k, 6.5%; Previous (Jun): +65k, 6.4%

  • Markets expect the EZ unemployment rate to increase further to 7.7%
    following an uptick to 7.4% in May.
  • The impact of Covid-19 on the jobless rate has been limited so far in Europe
    due to massive government intervention measures.
  • However, these schemes will eventually pare back in the coming month,
    which is likely to lead to rising unemployment come autumn.
  • Moreover, firms are likely to struggle as demand remains weak, putting
    further pressure on the labour market.
  • German data provides a more up-to-date picture, showing figures for July.
  • June's German jobless rate rose to 6.4% and markets expect
    the rate to rise to 6.5%.
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
DataHomepagemarkets-real-timeData BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
DataHomepagemarkets-real-timeData BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

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