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1 Jul 2014
German Unemployment rate steady at a twenty-year low of 6.7% in June - BNP Paribas
FXStreet (Łódź) - As BNP Paribas economist Caroline Newhouse notes, the German Unemployment rate remained unchanged for the fourth running month in June at a twenty-year low of 6.7%.
Key quotes
"Nonetheless unemployment increased by 9K, up for the second consecutive month. Surveys were indicating that job conditions remained tight in June."
"In addition, employment (published with one-month lag) increased over the month in May, up 9K, recording the smallest increase since November 2013.
"All in all, the German labour market seems to be benefiting from the current recovery."
"The stability of the employment situation should back household confidence and boost their real disposable income."
"According to GfK survey, the current focus of consumers in view of economic developments is predominantly on general domestic conditions such as labor market situation, propensity to invest and inflation."
Key quotes
"Nonetheless unemployment increased by 9K, up for the second consecutive month. Surveys were indicating that job conditions remained tight in June."
"In addition, employment (published with one-month lag) increased over the month in May, up 9K, recording the smallest increase since November 2013.
"All in all, the German labour market seems to be benefiting from the current recovery."
"The stability of the employment situation should back household confidence and boost their real disposable income."
"According to GfK survey, the current focus of consumers in view of economic developments is predominantly on general domestic conditions such as labor market situation, propensity to invest and inflation."