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5/3, 9:55 AM (Source: TeleTrader)
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German unemployment rate at 5% in April

The seasonally adjusted unemployment rate in Germany stood at 5% in April, Bundesagentur fuer Arbeit (BA) said in a report released on Tuesday. The figure marks a decrease of 0.1 percentage point from the previous month.

The number of unemployed German residents fell by 53,000 from the previous month and by 462,000 on an annual basis to reach 2.3 million in April. On a seasonally adjusted basis, unemployment was down by 13,000 month on month. Meanwhile, underemployment, which also includes people in relieving labor market policies and short-term incapacity for work, stood at 3.06 million, falling by a seasonally adjusted 14,000 year on year.

"With the spring revival and the easing of the corona measures, the recovery on the labor market is continuing. However, the development is being slowed down by Russia's war against Ukraine," BA Chairman Detlef Scheele stated.

Baha Breaking News (BBN) / NP