Unemployment Preview June 2020..........>

GERMAN DATA: Unemployment Preview June 2020

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- Bbg Consensus: +104K, 6.5%; Previous (May): +238K, 6.3% 

- The unemployment rate is expected to rise further in June with markets

projecting an uptick to 6.5% following an increase to 6.3% in May. 

- This would mark the third successive increase after the rate held steady at

5.0% for several month before the current health crisis hit. 

- However, the extensive use of the government's short-term working scheme

should have prevented a steeper rise unemployment. 

- According to the Ifo Institute the number of people working short time only

declined marginally in June and in some sectors more people were registered for

the scheme. 

- Meanwhile, the Ifo employment barometer increased in June, indicating that

German companies are less pessimistic about employment 

- However, firms are still making redundancies especially in the industrial and

retail trade sector, although the trend was less negative than previously.