SPEED ROUND: MACRO WATCH

Drop in unemployment driven by job creation, not reduced labor force –EFG Hermes

MORE CONTEXT on this morning’s unemployment figures: EFG Hermes’ Mohamed Abu Basha took a deeper dive in a client note today, writing that “while the headline number is somewhat underwhelming, it carried an important development: the number of employed people has risen to exceed pre-COVID-19 levels. … The number of employed jumped by a sharp…