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Financial News: Germany's Unemployment Rate Rises In June

Germany's Unemployment Rate Rises In June

07/30/2020 - 02:56:00 (RTTNews)

(RTTNews) - Germany's unemployment rate rose marginally in June, monthly data from Destatis showed Thursday.

According to labor force survey, the jobless rate rose to a seasonally adjusted 4.2 percent in June from 4.1 percent in May.

On an unadjusted basis, the unemployment rate was 4.5 percent versus 4.4 percent a month ago.

Data showed that 1.97 million people were unemployed in June, up 39,000, or 2.1 percent from May. Compared to last year, unemployment advanced 653,000, or 49.2 percent.

At the same time, employment decreased by 1.3 percent or 586,000 from last year.

Compared with February 2020, the month before the coronavirus pandemic broke out in Germany, the number of persons in employment decreased 1.4 percent, or 655,000, in June.

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