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Eurozone unemployment: small second wave impact without wage pressures
Unemployment in the eurozone remained stable in February at 8.3%, but revisions to previous months have changed the picture of labour market developments over the winter. The unemployment rate now shows a tiny second wave effect as January is now reported to have seen a small tick up in unemployment from 8.2 to 8.3%. While the curve has changed a bit, it hardly changes the picture. Given the contraction in activity and the long closures of certain sectors, the second wave labour market impact remains mild. So the resilience in the labour market remains strong but continues to be driven by furlough schemes. ... (full story)