The unemployment rate in July should, after a long period of time, start to increase again. According to our estimate, it should reach 6.5% after June’s 6.3%. The only reason is of a seasonal nature. This is the inflow of new graduates from schools and training centers into the labor market and registering at Labor Offices. In view of the high number of vacancies, it shouldn't pose a problem for the market to absorb these new entrants and we are looking for a subsequent decline in the unemployment rate as the year moves on. This rate could well fall below 6% in the fall.