German improvement in unemployment to remain slow in June

While the overall conditions in the German labour market remain positive, with vacancies continuing to rise to new historical highs, the modest pace of activity and higher uncertainty is likely to weigh on hiring still for a few months. 

"The number of unemployed in Germany in June is expected to have declined by 5 thousand, following a similar size drop in May. The unemployment rate is expected to remain stable at 6.4%", says Societe Generale. 

With stronger activity in the coming months hiring is also expected to pick up in H2, maintaining the pressures on wages and costs, while also fuelling stronger consumption.