Bankinter: The Unemployment Rate has come out better than expected and remained at historical lows, showing the strength of the labour market. Unemployment Rate (June): 6.4% vs 6.5% expected and 6.4% previous (revised from 6.5%).
Assessment: June’s figure repeated May’s and remained at historic lows. Following last week’s European GDP and CPI data, employment figures continue to show the strength of the labour market. With inflation slowing and employment supporting the economy, the idea of a pause by the ECB at the 14 September meeting is reinforced.
