- Prior -4k
- Unemployment rate 5.7% vs 5.7% expected
- Prior 5.6%
German unemployment rose more than expected in August, albeit slightly. The number of people out of work increased by ~18k to 2.63 million with the jobless rate ticking a little higher to 5.7% on the month. I’d keep an eye on this space in the months ahead to see how quickly the downturn in the economy translates to labour market conditions. For now, things are still under control.