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Financial News: German Unemployment Grows Less Than Expected

German Unemployment Grows Less Than Expected

07/31/2019 - 06:58:00 (RTTNews)

(RTTNews) - Germany's unemployment grew less-than-expected in July, preliminary data from the Federal Employment Agency showed on Wednesday.

The seasonally adjusted unemployment grew by 1,000 persons to 2.283 million in July. Economists had forecast an increase of 2,000.

The number of unemployed hovered around 2.283 million for a third month running.

The initially reported decline of 1,000 in June was revised to show no change.

The seasonally adjusted jobless rate was 5 percent for a third straight month, in line with economists' expectations.

In non-adjusted terms, the unemployment grew decreased by 49,285 persons year-on-year to 2.275 million in July. The jobless rate climbed to 5 percent from 4.9 percent in June.

Compared to the previous month, the jobless figure climbed by 59,218 persons.

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