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German Unemployment Rises Slightly Less than Expected in Aug

BERLIN, Aug 28 (Reuters) - The number of unemployed people in Germany rose slightly less ​than expected in August, labour office figures showed ‌on Friday.

In seasonally adjusted terms, the jobless figure grew by 4,000 to 2.996 million, while analysts polled by Reuters ​had predicted an increase of 5,000.

The seasonally adjusted ​jobless rate remained stable at 6.4%.

The overall unadjusted ⁠number of unemployed people remained over the 3 ​million mark for the second month in a row ​in August, rising by 36,260 to reach 3.061 million in total.

"Even in August, the labour market shows little momentum beyond the usual ​seasonal patterns," labour office head Andrea Nahles said ​in a statement.

"This marks a continuation of the subdued trend seen ‌in ⁠recent months."

Unemployment figures regularly rise starting in July due to the summer break. This has been compounded by a relatively sluggish economy.

However, signs of stronger economic ​growth have recently ​increased, which ⁠could have a positive impact on the labour market: A survey from the Ifo ​economic institute found that job cuts had ​slowed in ⁠August.

The institute's key business climate index also rose more than expected in August, following stronger exports and industrial production.

In ⁠total, ​656,000 job openings were registered ​with the labour office in August, 25,000 more than a year ago.

Reporting ​by Miranda Murray Editing by Linda Pasquini and Friederike Heine

Source: Reuters


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