Germany's unemployment rises more than expected.
According to Reuters, figures released by Germany’s Federal Employment Agency on Wednesday showed that, after seasonal adjustment, the number of unemployed people rose by 12,000 compared with August, reaching 3.01 million.
According to Reuters, figures released by Germany’s Federal Employment Agency on Wednesday showed that, after seasonal adjustment, the number of unemployed people rose by 12,000 compared with August, reaching 3.01 million.
Analysts surveyed by Reuters had forecast an increase of only 1,000 unemployed people.
The seasonally adjusted unemployment rate remained unchanged at 6.4%.
The total number of unemployed people remained slightly above the 3 million mark in September. The figure had also stayed above 3 million during the previous two months.
The seasonal recovery in Germany’s labor market usually begins in September. However, the process has been slower this year.
Andrea Nahles, head of Germany’s Federal Employment Agency, said that economic growth had not yet fully reached the labor market.