Actual (Jul): 8.2 % Consensus: 8.2 % Previous (Jun): 8.1 % Unemployment rate did not surprise in July and became slightly higher. As school leavers and graduates come to labor market after June, they push unemployment higher. But this year, the effect was relatively small. During summer months hiring is usually weak as corporate sector actitivty is somewhat muted - this was another seasonall factor that worsened the figures. The labor market stopped improving in July, which was expected. However, we should see another decrease in unemployment in the rest of the year. Number of vacancies has increased again and should grow further thanks to the expected economic expansion. A risk is a slowdown in the 2H, especially in industry.