Quotes from Societe Generale:
- We estimate the unemployment rate will increase by 0.1pp to 11.4 pct in November as seasonal jobs are terminated and more people register for unemployment benefits. Our forecast is in line with Labor Ministry data. The Ministry already announced that the amount of registered unemployed persons was lower by 315,000 in November than last year and 23 pct y/y growth of declared job offers was reported.
- The job creation process is still on a sustainable growth path and it increases the probability of the unemployment rate remaining below 12.0 pct as of end-2014. We expect the unemployment rate in December to be around 11.6-11.7 pct.
The material has been provided by InstaForex Company – www.instaforex.com