Jobs
German Unemployment Up More Than Expected, Damping Rebound Hopes
- Joblessness rises by 25,000; economists estimated 7,000 gain
- Spring recovery hasn’t really taken off this year, Nahles says
Germany is recovering from an economic contraction at the end of 2023.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
German unemployment rose more than anticipated — underscoring expectations that Europe’s biggest economy will recover only gradually this year.
Joblessness rose by a seasonally adjusted 25,000 in May, while economists polled by Bloomberg had expected a gain of just 7,000. The unemployment rate held at 5.9%, the Federal Labor Agency said Tuesday.