BERLIN (Reuters) - 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.Data from the Federal Labour Office showed the number of people out of work rose by 1,000 to 2.283 million in seasonally adjusted terms. That compared with the Reuters consensus forecast for a rise of 2,000.

The jobless rate held steady at 5.0% - slightly above the record-low of 4.9% reached earlier this year.

“Unemployment and underemployment increased in July, mainly due to the beginning of the summer break,” said Daniel Terzenbach, a senior official at the Labour Office.

“The demand from companies for new employees is declining slightly and employment is continuing to increase, albeit less dynamically than recently,” Terzenbach added.

Reporting by Michael Nienaber; Editing by Michelle Martin
Our Standards:The Thomson Reuters Trust Principles.
REUTERS NEWS NOW

Subscribe to our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.


Enter email address
Submit


AppsNewslettersAdvertise with UsAdvertising GuidelinesCookiesTerms of UsePrivacy
All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays.
© 2019 Reuters. All Rights Reserved.
×