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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.
ITALY DATA
The Italian January unemployment rate was in line with consensus and steady vs December at 7.2%. The less volatile 3mma of the unemployment rate fell to 7.30% (vs 7.44% prior), the fifth consecutive monthly fall.
- Next week's national accounts data will provide an insight into the development of unit labour costs, allowing us to examine the extent to which labour market tightness (via the multi-year low unemployment rate) is being translated into increased cost pressures for firms.
- The employment rate fell a touch to 61.8% (vs 62.0% prior), while employment momentum (calculated as the 3m/3m saar of employed person) fell to 1.5% (vs 2.5% in January).
- Looking ahead, the EC's expected employment indicator (released on Wednesday) fell to 106.4 in February (vs 107.5 prior), remaining below the 2023 average of 108.1. Expected employment rose amongst retailers but fell for services providers in both surveys.
- Additionally, the EC's labour hoarding indicator reversed January's fall to rise back to 8.4 (vs 7.7 in Jan, 8.4 in Dec), rising in all industries other than services.
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.
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