German Unemployment Rate Rises In September
(RTTNews) - Germany's unemployment increased more than expected in September as subdued economic activity damped job creation, official data revealed on Tuesday.
The number of unemployed increased by 14,000 in September, reversing a fall of 7,000 in August, the Federal Employment Agency said. Unemployment was forecast to rise by 8,000.
The number of unemployed reached 2.98 million.
The jobless rate remained unchanged at 6.3 percent in September, in line with expectations.
Unemployment and underemployment fell in September for seasonal reasons alone, Federal Employment Agency Chairwoman Andrea Nahles said. The labor market continues to lack the necessary stimulus for a stronger recovery, Nahles added.
The unadjusted unemployment had exceeded the 3 million mark for the first time in a decade in August. However, it fell around 70,000 to 2.95 million in September.
Data showed that the underemployment rate slid to 7.5 percent in September from 7.6 percent in the previous month. According to the labor force survey results, published by Destatis on Tuesday, there were 1.66 million unemployed in August. This was up by 3,000 or 0.2 percent from July.
The adjusted unemployment rate came in at 3.7 percent in August, unchanged from July.
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