German Unemployment Rate Holds Steady

By Maria Martinez

BERLIN (Reuters) – The number of people out of work in Germany rose significantly less than expected in August, according to Federal Labour Office figures released on Friday.

The office reported an increase of 2,000 unemployed individuals in seasonally adjusted terms, bringing the total to 2.8 million. Analysts polled by Reuters had anticipated a rise of 16,000.

The seasonally adjusted job rate remained stable at 6.0%.

In August, there were 699,000 job openings registered with the labour office, which is 72,000 fewer than a year ago, indicating a slowdown in labour demand.

In the unadjusted figures, the number of unemployed increased by 63,000 to 2.9 million, reaching its highest level in three-and-a-half years.

Andrea Nahles, chairwoman of the Federal Labour Office, stated, “The labour market continues to feel the effects of economic stagnation,” as unemployment grew over the summer.