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FX.co ★ German Unemployment Increases In October

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typeContent_19130:::2023-11-02T11:43:00

German Unemployment Increases In October

Germany's unemployment increased notably in October amid weak economic activity, data released by the Federal Labor Agency revealed on Thursday.

The number of people out of work increased 30,000 after September's rise of 12,000. The actual increase was double the expected rise of 15,000.

The unemployment rate rose to 5.8 percent in October, as expected, from 5.7 percent in the prior month.

The labor force survey published by Destatis on Thursday showed that the jobless rate held steady at an adjusted 3.0 percent in September. The number of unemployed totaled 1.32 million, which was down 1,000 on the previous month.

On an unadjusted basis, the jobless rate rose slightly to 3.0 percent from 2.9 percent a year ago.

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