Yesterday's session brought Spanish Unemployment Change data from Eurozone. The number of unemployed in Spain registered at the offices of the Public Employment Services rose by 2,231 people in February over the previous month. Analysts predicted increase by 200. In 2015 it fell by 13,538 in 2014 and 1,949 people. The total number of registered unemployed stood at 4,152,986. In seasonally adjusted terms, unemployment fell in February at 21,959 people. In the last 12 months unemployment has fallen by 359,167 people. This is the largest reduction of the entire series in February. Registered unemployment rate is reducted on yearly basis by around 8% (7.95%).
In the US session ADP job figures were released.
Private sector employment increased by 214,000 jobs from January to February according to the February ADP National Employment Report. Analysts were prediciting increase by 185,000. "Large businesses showed surprisingly strong job gains in February, despite the continuation of economic trends that negatively impact big companies like turmoil in international markets and a strengthening dollar,” said Ahu Yildirmaz, VP and head of the ADP Research Institute. “The gains were mostly driven by the service sector which accounted for almost all the jobs added by large businesses.”
From Eurozone, tomorrow, Spanish and Italian Services PMI data will be published. Spanish Services PMI is expected to decline to 53.9, while Italian PMI should go down to 52.7. In the US session Unemployment Claims and Non-Manufacturing PMI figures will be released. Analysts predict decrease to 271,000, while Non-Manufacturing PMI should fall to 49.8.
Figures to watch:
Spanish Services PMI (Thursday 9:15)
Italian Services PMI (Thursday 9:45)
Unemployment Claims (Thursday 14:30)
ISM Non-Manufacturing PMI (Thursday 16:00)
