Germany's unemployment rate rises more than expected in August

Federal Labor Office data showed that the unemployment rate in Germany rose more than expected in August, rising by 18,000 people on a seasonally adjusted basis to 2.63 million in August. Analysts expected the unemployment rate to rise by 10,000 in August.

In August, there were 771 thousand job opportunities, which is 116 thousand fewer job opportunities than last year. Although the Federal Labor Office witnessed a slowdown in the demand for labor last year, it is still at a high level.

"The summer holidays and economic weakness are leaving their mark on the labor market, yet it remains in a strong fundamental position," said Andrea Nahles, head of the Employment Office. Federal Employment Office data added that the number of employed people rose by 15,000 in July to 45.92 million people, which is higher by 15,000 in July. 339 thousand people over the past year.

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