German unemployment rises less than expected in July

Data from the German Federal Labour Office showed  that German unemployment increased less than expected in July, data showed on Wednesday, suggesting that the labor market in Europe’s largest economy so far remains relatively immune to an economic downturn which is driven by a manufacturing crisis.

The number of people out of work rose by 1,000 to 2.283 million in seasonally adjusted terms. The jobless rate held steady at 5.0% – slightly above the record-low of 4.9% reached earlier this year.

 

Via Reuters

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