German Unemployment Rises More Than Expected on Sluggish Economy
- Joblesses rises by 16,000; economist est. was 1,000 increase
- Weak activity is having an impact on jobs market, Nahles says
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German unemployment rose more than expected as the country slowly emerges from a downturn stoked by the energy crisis and inflation.
Joblessness increased by 16,000 in March, the Federal Labor Agency said Friday in a statement. That was more than all of the 20 estimates in a Bloomberg poll of analysts. The unemployment rate ticked up to 5.6% — also higher than predicted.