German unemployment rises more than expected in December

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By Ritu,

Capital Sands

 

German unemployment rose more than expected in December, data showed on Friday, adding to signs that weakness in the manufacturing sector is hurting the labor market in Europe’s biggest economy.

Data from the Federal Labor Office showed the number of people out of work rose by 8,000 to 2.279 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.

“The weak economic cycle is leaving visible marks (on the labor market)” said Labor Office head Deflect Scheele.

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