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German Unemployment Declines Less Than Expected
Germany’s unemployment decreased less-than-expected in June after a strong increase in the previous month, preliminary data from the Federal Employment Agency showed on Monday.
The seasonally adjusted number of unemployed persons fell by 1,000 after a 60,000 increase in May, which was the first rise in nearly two years. Economists had forecast a fall of 3,000.
The jobless rate was 5 percent in June, unchanged from May, and in line with economists’ expectations.
In May, the jobless rate had risen from the re-unification low of 4.9 percent logged in each of the previous two months and marked the first increase since November 2013.
The non-seasonally adjusted unemployment decreased by 20,000 to 2.216 million persons in June.
The material has been provided by InstaForex Company – www.instaforex.com
