Plus   Neg

German Unemployment Surges In May

German unemployment increased more than expected in May amid coronavirus pandemic, data from the Federal Labor Agency showed on Wednesday.

The number of people out of work increased by 238,000 from the previous month to 2.875 million in May. Economists had forecast an increase of 200,000.

The jobless rate rose to 6.3 percent in May from 5.8 percent a month ago. This was also above economists' forecast of 6.2 percent.

The labour market remains under a lot of pressure due to the coronavirus pandemic, Labour Office head Detlef Scheele said.

For comments and feedback contact: editorial@rttnews.com

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.

Follow RTT