Unemployment in Germany exceeded expectations in June
The number of unemployed people in Germany increased by 19,000 in June compared to the previous month as the sluggish economy continued to negatively affect the labor market.
According to June data on unemployment figures from the German Federal Employment Agency (BA), the number of seasonally adjusted unemployed in the country increased by 19 thousand in June compared to the previous month and rose to 2 million 781 thousand.
The seasonally adjusted unemployment rate in the country, which was 5.9 percent in May, rose to 6 percent in June, reaching the highest level since May 2021.
The number of unemployed was expected to increase by 15 thousand in the markets.
Andrea Nahles, President of the Federal Employment Agency, stated that the weakness in the German labor market continues and that companies are still cautious in their search for new staff.