German Unemployment Unexpectedly Rises as Growth to Slow
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German unemployment unexpectedly increased for the first time in six months amid signs of a slowdown in Europe’s largest economy that could weigh on the fragile euro-area recovery.
The number of people out of work rose a seasonally adjusted 23,937 to 2.905 million in May, the Nuremberg-based Federal Labor Agency said today. Economists forecast a decline of 15,000, according to the median of 31 estimates in a Bloomberg News survey. The adjusted jobless rate was unchanged at 6.7 percent, the lowest level in more than two decades.