German unemployment rises less than forecast in August

30th Aug 2024 07:23

(Sharecast News) - German unemployment rose less than expected in August, according to Federal Labour Office figures published on Friday.

The number of unemployed grew by 2,000 on a seasonally adjusted basis to 2.8 million. Analysts had forecast a rise of 16,000. The seasonally adjusted job rate was unchanged at 6.0%.

Job openings fell 72,000 to 699,000 on an annualised basis. On an unadjusted basis, the number of unemployed grew by 63,000 to 2.9 million, its highest level in three-and-a-half years.

"The labour market continues to feel the effects of economic stagnation," said Labour Office chair Andrea Nahles.

Reporting by Frank Prenesti for Sharecast.com