German unemployment shows surprise increase
AFPFRANKFURT -- German unemployment registered a small unexpected rise in August, as government-sponsored job schemes were wound down, but the labor market remains stable overall, official data showed on Thursday.
August 30, 2013, 11:12 am TWN
According to the labor office data, the jobless total edged up by 7,000 to 2.943 million in seasonally adjusted terms in August. Analysts had been expecting a drop of around 5,000.
Nevertheless, the unemployment rate — which measures the proportion of people out of work compared with working population as a whole — was unchanged at 6.8 percent this month in seasonally-adjusted terms, the Federal Labour Office said.
The slight increase in the jobless total was “mostly due to fewer job relief measures in labor market policy,” the office said.