Unemployment Rate Rises in Germany

Introduction

Data from the German Federal Labor Office (the largest European economy) showed today, Friday, that the unemployment rate in the country rose more than expected in June.

The ministry clarified that the number of unemployed people increased by 28 thousand people, taking into account seasonal adjustments, and reached 2.61 million people.

Analysts polled by Reuters had expected an increase of 13,000 people.

Unemployment Rate Increase

The seasonally adjusted unemployment rate rose to 5.7%.

“The impact of difficult economic conditions is now being felt in the labor market … Unemployment is rising and economic growth is slowing down,” said the head of the office, Andrea Nals.