Germany's unemployment witnessed a minor increase in January while job vacancies saw a decline, as the nation's manufacturing sector continues to endure a severe downturn, according to official figures released on Friday.
The Federal Employment Agency reported an increase of 11,000 in the number of unemployed individuals in January, following a rise of 10,000 in December. Analysts had initially anticipated a sharper increase of 14,000.
The unemployment rate slightly rose to 6.2 percent in January, up from December's 6.1 percent, aligning with market expectations.
Additionally, the data disclosed a reduction in job vacancies, down by 66,000 from the previous year, totaling approximately 632,000 in January.
Andrea Nahles, Chairwoman of the Federal Employment Agency, noted the significant increase in unemployment and underemployment in January, a trend typical for this time of year. While employment growth persists, it is showing a marked slowdown in momentum, she observed.
In parallel data from the labor force survey, Destatis reported that the seasonally adjusted unemployment rate held steady at 3.4 percent in December. Compared to November, the number of unemployed rose by 2,000, a 0.1 percent increase, reaching 1.52 million.
On an unadjusted scale, the jobless rate increased to 3.2 percent in December, up from 2.9 percent in the corresponding period of the previous year.
