Financial News: German Unemployment Rises More Than Expected

German Unemployment Rises More Than Expected

05/28/2025 - 07:40:00 (RTTNews)

(RTTNews) - Joblessness in Germany increased more than expected in May as a weak economy continued to impede job creation, official data revealed on Wednesday.

The number of unemployed increased sharply by 34,000 in May compared to April's rise of 6,000, the Federal Employment Agency said. Economists expected a monthly increase of 12,000.

The unemployment rate remained unchanged at 6.3 percent in May and matched economists' expectations.

The labor market is not getting the tailwind it needs to reverse the trend; therefore, unemployment figures are likely to continue to rise this summer, the Federal Employment Agency chief Andrea Nahles said.

In April, the adjusted jobless rate remained unchanged at 3.6 percent, the results of the labor force survey, published by Destatis, showed Wednesday. The number of people out of work declined by 3,000 from the previous month to 1.58 million.

Even if the increase in the number of unemployed is gradual, the risk of an underlying loss in disposable income and broader economic prosperity is high, ING economist Carsten Brzeski said.

The German labour market's gradual turn continued, and it showed that restoring private consumption to the German economy will not be easy, the economist added.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Japan Inflation Data Due On Friday (01 hr(s), 12 min(s), 27 sec(s) ago)
(RTTNews) - Japan will on Friday release July figures for Tokyo inflation, highlighting a light da ...Full Story»

Turkish Central Bank Slashes Interest Rate To 43% (01 hr(s), 54 min(s), 27 sec(s) ago)
(RTTNews) - Turkey's central bank lowered interest rates more than expected on Thursday in a b ...Full Story»

U.S. New Home Sales Rebound Much Less Than Expected In June (07 hr(s), 53 min(s), 27 sec(s) ago)
(RTTNews) - After reporting a steep drop by new home sales in the U.S. in the previous month, the ...Full Story»

Treasury Announces Details Of Two-Year, Five-Year & Seven-Year Note Auctions (07 hr(s), 52 min(s), 27 sec(s) ago)
(RTTNews) - The Treasury Department on Thursday announced the details of this month's auctions ...Full Story»

U.S. Initial Jobless Claims Unexpectedly Dip To 217,000 (08 hr(s), 35 min(s), 27 sec(s) ago)
(RTTNews) - The Labor Department released a report on Thursday unexpectedly showing another modest ...Full Story»

ECB Leaves Rates Unchanged As Expected (09 hr(s), 19 min(s), 27 sec(s) ago)
(RTTNews) - The European Central Bank held its key interest rates steady on Thursday, in line with ...Full Story»

UK Private Sector Growth Moderates On Services Activity (10 hr(s), 0 min(s),27 sec(s) ago)
(RTTNews) - UK private sector output continued to grow in July but the pace of expansion moderated ...Full Story»

Eurozone Private Sector Growth At 11-Month High (10 hr(s), 34 min(s), 27 sec(s) ago)
(RTTNews) - The euro area private sector grew at the fastest pace in almost a year in July as the ...Full Story»