Jobs
German Jobless Rate Unexpectedly Rises to Highest Since 2021
- Unemployment increases by 22,000; economist est. 20,000 gain
- ‘The economic slump is leaving its mark,’ Nahles says
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Germany’s unemployment rate unexpectedly rose to the highest level in 2 1/2 years, a sign that the weakness of Europe’s biggest economy is starting to impact its labor market.
It reached 5.9% in November, up from 5.8% the previous month, the Federal Labor Agency said in a statement on Thursday. Joblessness increased by 22,000, slightly exceeding the median economist estimate in a Bloomberg survey.