December Sees a Surge in German Unemployment Rate
Germany experienced a minor uptick in unemployment rates towards the end of the year according to a report from the Federal Labor Agency. In December, the jobless rate increased to 5.9 percent from a revised 5.8 percent in November. Previously, it was predicted that the rate would hold at November’s initial estimated level of 5.9 percent. The rise in unemployment in December was 5,000, showing a decrease compared to November’s increase of 21,000 and October’s increase of 29,000. For December, economists had predicted a monthly increase of 20,000. Destatis’s labour force survey results further indicated that the unemployment rate remained at an adjusted 3.1 percent in November. The number of unemployed individuals slightly rose by 5,000 from the previous month, totaling to 1.36 million in November.