Financial News: German Unemployment Rate Rises

German Unemployment Rate Rises

07/31/2026 - 08:50:00 (RTTNews)

(RTTNews) - Germany's unemployment increased unexpectedly in July, official data showed Friday.

The unemployment rate rose to 6.4 percent in July from 6.3 percent in June, the Federal Employment Agency reported. The rate was expected to remain unchanged at 6.3 percent.

The number of unemployed people increased 6,000 from June, when it was down 1,000. Economists had forecast unemployment to climb by 5,000. Unemployment rose to 2.99 million in July.

Unemployment and underemployment increased noticeably in July, primarily due to seasonal factors, a member of the Regional Management Board of the Federal Employment Agency Daniel Terzenbach said. Overall, the weak trend in the labor market of recent months continued, added Terzenbach.

Based on the labor force survey, Destatis said the unemployment rate rose to an adjusted 3.9 percent in June from 3.8 percent in May. The number of unemployed rose 6,000 to 1.70 million in June.

The recent Purchasing Managers' survey results showed that Germany's private sector returned to expansion territory in July. The survey revealed that firms maintained a preference for lower workforce numbers. The rate of job losses eased in July to show the softest reduction in employment since December last year.

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