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2020/11/27 / Erste Group Research

EZ labor market & inflation, Brexit

The labor market continues to suffer considerably from the effects of the coronavirus crisis, although the instrument of short-time working is making a significant contribution to alleviating the situation in the short term. The rise in the unemployment rate will continue to weigh on wage growth for the foreseeable future, as it significantly reduces the bargaining power of workers.

As usual, a number of deadlines for the Brexit negotiations have elapsed during the last few weeks without this having any impact. Where the absolutely last possible moment for agreement to be reached is, will also depend on the parties themselves. But in any case it will be tight.

In addition, the first flash estimate of inflation for November is to be published on December 1. Inflation is also likely to remain slightly negative in November due to continued substantial downward pressure from energy prices.

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General information

AuthorErste Group Research
Date2020/11/27
Languageen
Product nameWeek ahead
Topic in focusMacro/ Fixed income
Economy in focusEurozone
Currency in focusEuro
Sector in focus-
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