German Unemployment Rises In July
(RTTNews) - Germany's unemployment increased less than expected in July but the overall number of people out of work remained close to the 3 million mark due to the prolonged period of economic slowdown, official data revealed on Thursday.
The number of unemployed rose by less-than-expected 2,000 from June, the Federal Employment Agency said. For July, economists had forecast an increase of 15,000.
Joblessness had climbed by 10,000 in June and by 32,000 in May.
On an unadjusted basis, unemployment increased sharply by 65,000 to 2.98 million in July, the agency said. The figure was only slightly below the 3 million mark.
Unemployment has increased due to the start of the summer break, Federal Employment Agency chief Andrea Nahles said.
The unemployment rate remained unchanged at 6.3 percent in July, while it was forecast to rise to 6.4 percent.
Data showed that job vacancies declined by 75,000 from the last year to 628,000 in July.
In June, the ILO jobless rate was unchanged at 3.7 percent, Destatis reported Thursday. According to the labor force survey, the number of unemployed decreased 3,000 from May to 1.61 million.
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