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11/30/2022, 9:55 AM (Source: TeleTrader)
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German unemployment rate rises slightly to 5.6% in Nov.

The unemployment rate in Germany was registered at 5.6% in November, coming in slightly above the market projections, data released by the country's Federal Employment Agency revealed on Wednesday. The reading marks the highest figure since July 2021.

The number of unemployed German residents increased by 17,000 to 2.54 million in November compared to the figure month before, exceeding analysts' estimates by a modest amount.

"Overall, the job market is stable," Federal Employment Agency Board Member Daniel Terzenbach commented. "Although seasonally adjusted unemployment and underemployment have risen again and short-time work is increasing again, employment is growing significantly," he added.

Baha Breaking News (BBN) / AB