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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.
SPAIN DATA
Spanish unemployment remains close to the lowest levels since the GFC, printing at 11.76% in Q4 '23 (vs 11.9% cons, 11.84% in Q3).
- Looking at the details of the release, the number of employed persons fell by -19k in Q4, but this was more than offset by a -24.6k fall in those unemployed (the active population rate thus fell by -43.6k to 24,077,400 persons).
- The largest rise in unemployment came in services (+29k), which is somewhat surprising as the total number of unemployment claims in the services sector fell by 11k between September and December '23 (as reported by the Spanish Labour ministry).
- Looking ahead, data from INE's quarterly business confidence survey indicated upside risks to the unemployment outlook going forward. Employment expectations remained negative at -3.5 (vs -3.8 prior), with all subcomponents other than industry and services ex. transport and accommodation seeing falls. This was consistent with the expected employment components of the December European Commission survey.
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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