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- German jobless total rises more than expected in October
German jobless total rises more than expected in October
German unemployment rose more than expected in October, data from the Federal Labour Office showed, suggesting that a manufacturing crisis in Europe’s largest economy is spilling over to the labor market.
Number of people out of work increased by 6,000 to 2.287 million in seasonally adjusted terms. That compared with forecast for a rise of 2,000. This increase is due solely to the development in the area of unemployment insurance due to the economic downturn. The number of unemployed remained unchanged compared with the previous year. The jobless rate held steady at 5.0% - slightly above the record-low of 4.9% reached earlier this year.
Underemployment, which also includes changes in labour market policy and short-term incapacity for work, has declined by 4,000 seasonally adjusted compared with the previous month. Overall, the underemployment in October 2019 was 3,129,000 persons. That was 13,000 less than a year ago.
“The recent economic weakness is leaving its marks on the job market. But all in all, it still proves to be robust,” said Labour Office head Detlef Scheele.
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