Financial News: German Unemployment Rises Less Than Expected

German Unemployment Rises Less Than Expected

02/28/2025 - 07:57:00 (RTTNews)

(RTTNews) - German unemployment increased only moderately in February but the economic weakness remained visible on the labor market, the Federal Employment Agency said Friday.

The number of people out of work rose 5,000 in February, while economists had forecast a sharp increase of 14,000. Unemployment had increased 11,000 in January.

The unemployment rate remained unchanged at 6.2 percent, in line with expectations. According to the labor force survey, the unemployment rate held steady at adjusted 3.5 percent in January. The number of unemployed increased 9,000 from December.

On an unadjusted basis, the jobless rate rose to 3.7 percent in January from 3.2 percent in the same period last year, Destatis reported today.

"The economic weakness remains visible on the labor market in February," Federal Employment Agency Regional Director Daniel Terzenbach, said.

The <a href=https://www.rttnews.com/3515686/german-gdp-shrinks-on-weaker-exports.aspx?refresh=1 target=_blank >largest euro area economy had contracted</a> 0.2 percent in the fourth quarter of 2024, reversing a 0.1 percent sequential growth in the third quarter. The sharp decline in German exports offset the improvement in consumption.

For the whole year of 2024, the economic contraction was 0.2 percent.

The International Monetary Fund forecast the German economy to grow just 0.3 percent this year.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Moldova GDP Falls Further In Q4 (02 hr(s), 51 min(s), 35 sec(s) ago)
(RTTNews) - The Moldovan economy shrunk for a second straight quarter in the final three months of ...Full Story»

Croatia Prices Rise More Than Expected In February (03 hr(s), 11 min(s), 35 sec(s) ago)
(RTTNews) - Consumer prices in Croatia rose more than initially expected in February, but the rate ...Full Story»

U.S. Business Inventories Rise In Line With Estimates In January (03 hr(s), 55 min(s), 35 sec(s) ago)
(RTTNews) - Business inventories in the U.S. increased in line with economist estimates in the mon ...Full Story»

U.S. Homebuilder Confidence Slumps To Seven-Month Low In March (04 hr(s), 30 min(s), 35 sec(s) ago)
(RTTNews) - A report released by the National Association of Home Builders on Monday showed a cont ...Full Story»

New York Manufacturing Activity Drops Significantly In March (04 hr(s), 46 min(s), 35 sec(s) ago)
(RTTNews) - The Federal Reserve Bank of New York released a report on Monday showing regional manu ...Full Story»

U.S. Retail Sales Rebound In February But Much Less Than Expected (04 hr(s), 49 min(s), 35 sec(s) ago)
(RTTNews) - After reporting a notable decrease by U.S. retail sales in the previous month, the Com ...Full Story»

Bulgaria Inflation Rises To 4.0%, Highest In 14 Months (05 hr(s), 53 min(s), 35 sec(s) ago)
(RTTNews) - Bulgaria's consumer price inflation accelerated further in February to the highest ...Full Story»

New York Manufacturing Index Plunges Much More Than Expected In March (06 hr(s), 20 min(s), 35 sec(s) ago)
(RTTNews) - The Federal Reserve Bank of New York released a report on Monday showing regional manu ...Full Story»