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8/31, 9:56 AM (Source: TeleTrader)
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German unemployment at 5.6% in August

The seasonally adjusted unemployment rate in Germany stood at 5.6% in August, Bundesagentur fuer Arbeit said in a report released on Tuesday. The figure marks a decrease of 0.1 percentage point from the previous month and is lower than analysts had expected.

The number of unemployed German residents fell by 12,000 from the previous month and by 377,000 on an annual basis to reach 2.58 million in July.

Meanwhile, underemployment, which also includes people in relieving labor market policies and short-term incapacity for work, stood at 3.35 million, falling by 355,000 year on year.

Breaking the News / NP