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Biggest Rise in German Jobless
World Economy

Biggest Rise in German Jobless

German unemployment increased unexpectedly in July, its biggest rise since May last year. This is a setback for domestic demand, which is expected to drive growth in Europe’s largest economy this year, NewsNow reported. The number of unemployed increased by 9,000 last month after rising 1,000 in June, according to the Federal Labor Agency. It was forecast to fall by 5,000. However, the German labor market remains robust. The jobless rate remained unchanged at a seasonally adjusted 6.4% in July, as expected by economists. The rate has been at this level since April, the lowest since German reunification.

 

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