Germany's unemployment increased less than expected in May despite the economy entering a technical recession in the face of high inflation and tight monetary policy.
The number of unemployed persons increased 9,000 in May, the Federal Labor Agency reported Wednesday. This followed an increase of 23,000 in April and 18,000 in March. Economists had forecast unemployment to increase 15,000.
The unemployment rate held steady at 5.6 percent in May, in line with expectations.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.